In a letter to Federal Communications Commission Chairwoman Jessica Rosenworcel, published Wednesday by
Fox News, Republican Rep. Chip Roy of Texas expressed grave concern over globalist billionaire George Soros' efforts to bypass the usual regulatory process and secure FCC approval for his investment company's purchase of one of America's largest broadcast and Internet radio platforms.
Audacy, a major owner of local broadcast radio stations across America, filed for bankruptcy in January, according to
Reuters.
By February, Soros Fund Management -- the sinister billionaire's private investment firm -- had
purchased $400 million of Audacy’s $1.9 billion debt.
That purchase raised
legitimate fears that Soros hoped to control more than 200 radio stations ahead of the 2024 election.
Meanwhile, courts have approved Audacy's restructuring deal, according to Fox News.
Thus, with Soros Fund Management's purchase of Audacy awaiting only FCC approval, Roy demanded that the regulatory agency not give the Hungarian-born globalist billionaire special treatment and instead follow the law.
"Of particular concern," Roy wrote, "the
Soros groups are asking the Federal Communications Commission (FCC) to approve a change in ownership in Audacy without the FCC running its normal, statutorily required process."
"The FCC has an obligation to complete a full and thorough review of any radio station purchase of this size and magnitude," Roy wrote.
Roy then cited Section 310(b)(4) of the
1934 Communications Act.
That fourth clause under sub-section (b) requires the denial of a radio station license to "any corporation directly or indirectly controlled by any other corporation of which more than one-fourth of the capital stock is owned of record or voted by aliens, their representatives, or by a foreign government or representative thereof, or by any corporation organized under the laws of a foreign country, if the Commission finds that the public interest will be served by the refusal or revocation of such license."
Curiously, the first clause under the same sub-section (b) prohibits direct foreign ownership of any U.S. radio station. And it gives the
FCC no discretion in the matter.
It seems clear, therefore, that the Communications Act's authors intended to prevent exactly what Soros Fund Management's purchase of Audacy now threatens.
The discretion afforded FCC regulators under the fourth clause, however, allows sinister actors like Soros to get around legal intent.
In fact, the
Soros group has brazenly requested that the FCC waive its standard review requirements.
"The Soros group says that skipping the foreign ownership review at this time will enable the FCC to expedite its approval of the Soros applications and thus allow them to more quickly realize their ownership interests in, and take the reins at, these hundreds of local radio stations across the country," Roy wrote.
"While this may be true, the Soros group’s interest in expediency does not obviate the FCC’s obligation to follow the law and protect the American people," he added."