Democratic megadonor George Soros is set to take control of a major Philadelphia-based radio conglomerate that hosts conservative stations.
On Tuesday, a bankruptcy court approved a plan for Soros’s investment firm to acquire 40% of Audacy’s debt, which would make it the single largest shareholder in the company, the Philadelphia Inquirer reported. The plan will now go to the Federal Communications Commission for approval.
If approved, Soros would hold major sway over the parent company of numerous conservative radio talk shows, including those of Dana Loesch, Mark Levin, Guy Benson, Sean Hannity, and Rich Zeoli.
The deal was revealed last week and approved by the court on Tuesday.
Audacy declared bankruptcy in January, prompting a scramble by investors to save the company. Soros has stepped in to save the company in return for obtaining a plurality of control. Many conservatives panicked over the decision, seeing it as a left-wing equivalent to Elon Musk’s takeover of Twitter, now X.
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Other analysts aren’t so sure.
“It’s a long way from managing billion-dollar funds to programming local radio stations. It’s hard to imagine Soros getting involved in the day-to-day issues of radio stations,” Andy Bloom, a former WIP program director, wrote in Barrett News Media. “Audacy has enough problems now without trying to program its radio stations based on the political beliefs of one debtholder.”
