Posted on 02/15/2024 10:38:36 AM PST by SeekAndFind
George Soros is poised to take a massive stake in the nation’s second-largest radio company, which owns more than 220 stations nationwide, according to court filings and sources close to the situation.
The left-leaning billionaire’s Soros Fund Management has bought up $400 million of debt in Audacy — the No. 2 US radio broadcaster behind iHeartMedia with stations including New York’s WFAN and 1010 WINS, as well as Los Angeles-based KROQ, according to bankruptcy filings.
One insider close to the situation, noting that he was a Republican, said he believed it was possible Soros was buying the stake to exert influence on public opinion in the months leading up to the 2024 presidential election.
“This is scary,” the source said.
Sources told The Post that Soros’s stake is equal to about 40% of the company’s senior debt — a massive chunk which, although not a majority, could yield effective control of the media giant when it emerges from bankruptcy.
Soros scooped up the debt during the past few weeks at roughly 50 cents on the dollar from hedge fund HG Vora, according to a source close to the situation.
Audacy confimed the Soros’ investment after reports of the deal surfaced.
“The decision by our existing and new debtholders to become equity holders in Audacy represents a significant vote of confidence in our company and the future of the radio and audio business,” Audacy said in a statement.
Soros Fund didn’t respond to a request for comment. A spokesperson for HG Vora declined to comment.
(Excerpt) Read more at nypost.com ...
Air America went down in flames.
Following in the path of warren buffet who gobbled up local newspapers
That was glorious.
I’m getting sick of all this doom-mongering. Soros is taking over radio stations. We’re all doomed! Its scary!! Grow up. He’s going to put the same leftwing s__t on that doesn’t sell anywhere else. It will be like Disney and the other studios pushing Woke garbage on the public. It will spawn an industry mocking it.
That’s what I was gonna say.
Air America.
Radio is dead, Soros paid fifty cents on the dollar, and would likely sell it to those who are concerned for fifty five cents on the dollar,
Later story on radio: Workers again applaud the triumphant sixth year of the government five year plan for tractor replacement. In other news, rutabaga and groats rations will be increased by 2% to homes certified to have no gas stoves or lawn mowers.
“He’s going to put the same leftwing s__t on that doesn’t sell anywhere else.”
In reality what’s going to change? Every form of media is already spewing leftwing crap 24/7.
Can you still get radios?
Exactly. Without government funding it will fail bigly. With government funding it will fail spectacularly.
Let's work on call-signs!
ECHO, 101
DARE, 92.5
DEI, 96.5
TRANS, 106 (Trans Sports Talk Radio) TFOG, 107 (Live pressers from the Whitehouse)
OKILL, 102.6 (Talk Format on anything orange)
You’re referring to the CIA operation? Or another allusion?
This means Trump won’t be able to run campaign ads over the air.
Taking the suckage that is Audacy to the next level of suck.
“The decision by our existing and new debtholders to become equity holders in Audacy represents a significant vote of confidence in our company and the future of the radio and audio business”
“The left-leaning billionaire’s Soros Fund Management has bought up $400 million of debt in Audacy”
Do those two sentences contradict each other?
The Commission may grant a request from a foreign individual, government, or entity to own, directly or indirectly, more than twenty-five percent (and up to one hundred percent) of the stock of a U.S.-organized entity that holds a controlling interest in a common carrier or aeronautical radio licensee
Any bets on whether Uncle "10% for the Big Guy" Joe will grant Soros such a waiver?
Will rinos put a stop to this? This group is antiAmerican.
Today's world.. it has less listeners than CNN has viewers. The days of a RUSH LIMBAUGH size audience are GONE.
In order for Soros to do anything that can’t be ignored with these radio stations they’d have to get rid of the internet.
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