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Soros Fund Buys Massive Stake In 2nd Largest Radio Station Chain Ahead Of 2024 Elections

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George Soros’ fund has bought a potentially controlling stake in Audacity, the second largest radio station chain.

Republican insiders cited in the report alleged election-year buying to influence public opinion.

The Washington Times reported:

George Soros has purchased a potential controlling stake in America’s second largest radio station chain.

His Soros Fund Management bought out $400 million in Audacity Chain debt, according to a bankruptcy filing cited in the New York Post on Wednesday.

A Republican official “close to the situation” told the Post that Mr. Soros may be conducting election-year bribes to influence public opinion.

Audacy owns more than 220 stations in nearly every major market nationwide.

Soros’ stake is expected to be around 40%.

The report claims this could mean Mr. Soros would gain effective control over the company.

The New York Post reported:

Mr. Soros’ stake represents about 40% of the company’s senior debt, which is not a majority but a significant amount, people familiar with the matter told the Post, adding that the media giant’s stake is still significant when it emerges from bankruptcy. There is a possibility that effective control will be obtained.

Soros has racked up about 50 cents on the dollar in debt from hedge fund HG Bora in the past few weeks, according to people close to the situation.

After reports about the deal surfaced, Audacy confirmed Soros’ investment.

“The decision by our existing and new debtors to become Audacy equity holders represents a significant vote of confidence in the future of our company and our radio and audio business,” Audacy said in a statement.

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