Soros Fund Management, an investment firm run by left-wing billionaire George Soros, is reportedly looking to take control of Audacity, the second largest radio station in the United States. Only iHeartMedia owns more radio stations.
Audacy, with $1.9 billion in debt, filed for bankruptcy in January.Purchased by Soros Management Fund $400 million of that debt. SMF currently controls about 40% of Audacy’s senior debt, meaning the Soros fund is well positioned to become the radio giant’s largest shareholder once bankruptcy proceedings are completed.
Why don’t more conservative billionaires buy more big-name media?
The move is a troubling sign that Mr. Soros plans to wield significant influence over the crucial broadcast radio market in the months leading up to the 2024 election.
Audacy owns more than 220 stations nationwide, including news and talk radio stations in major markets, including: New York City, Chicago, Los Angeles.
Perhaps most importantly, Audacy owns talk radio stations in high-profile markets in election battleground states, including KDWN-AM in Las Vegas, WPHT-AM in Philadelphia, and KDKA-AM in Pittsburgh.
Many of America’s leading conservatives now have shows on networks owned by Audacy. Mark Levin, Dana Loesch, Brian Kilmeade, Sean Hannity. Soros is at the helm of the Audacity, but no one knows how long that will last.
For more than 30 years, Soros has had a tremendous influence on American political and social causes.
The Soros-funded Open Society Foundations $21 billion Over the past 30 years. In 2022 alone, spent $1.3 billion. Most of that cash was donated to left-wing causes and organizations. media is important, planned parentingand radical climate change advocacy groups. sunrise movement.
Soros has supported it through state-registered political action committees. A radical district attorney who is soft on crime win a major local election and contribute to ~ Rising crime rates in urban areas.
The left-wing billionaire is now turning his attention to the radio market, where conservatives and Christians have long had a huge influence on politics and culture.of Majority Some of the most listened to talk radio shows are still hosted by conservatives or right-wing moderates and reach tens of millions of viewers each week.
If Mr. Soros succeeds in reducing the influence of conservative voices on radio, it could have a huge impact on the 2024 elections, especially in the presidential race and in hotly contested seats.
Congressional and presidential elections in many states are less than 3 percentage points In 2020, that includes Michigan, Nevada, and Pennsylvania, all of which are home to news or talk radio stations owned by Audacity. If Biden had lost just these three states, Trump would have won the 2020 election.
The Soros Managed Fund’s recent move to acquire the Audacity radio station appears to be part of a long-term strategy.
In 2022, the Latino Media Network is supported by Soros Fund Management. Acquires 18 Spanish-language radio stations for $60 million. Among the stations included in the deal was Radio Mambi, a popular conservative anti-communist talk radio station in Miami with close ties to South Florida’s Cuban exile community.
At this stage in the process, there appears to be nothing stopping Mr. Soros from taking over Audacy, especially with a left-wing president in control of federal regulators. But this crisis raises serious questions about the involvement of the conservative movement and its biggest funders.
For decades, the left has increasingly controlled print, digital, and television media. Years ago, it succeeded in captivating many in academia, Hollywood, and the music industry.
Why don’t more conservative billionaires buy more big-name media? Unless it’s also true that many very wealthy conservatives complain endlessly about bias in journalism. I don’t think people understand how important media has become.
Conservative policy solutions are better and far more appealing to all Americans, but it doesn’t really matter if most people don’t know about them.
If America’s wealthiest conservatives don’t care enough about their country to resist the influence of people like George Soros, it will be incredibly difficult for conservatism to thrive in the coming decades. It will be.
It’s long past time for conservative billionaires to put their money where their mouth is.
