(ReclaimingAmerica.net) – In a marked attempt to flood the airwaves with a liberal agenda before this year’s presidential election, progressive investor George Soros has set his sights on the American radio industry.
Soros’ move allowed him to secure a significant investment in America’s second-largest radio station network with a potentially dominant share.
Bankruptcy documents reveal that Soros Fund Management invested $400 million in Audacy’s debt. This investment represents roughly 40% of Audacy’s total debt, which was acquired at approximately half its nominal value.
In a report by The New York Post the outlet notes, “Although not a majority, [that] could yield effective control of the media giant when it emerges from bankruptcy,” which indicates that Soros’s influence could significantly grow post-bankruptcy.
A source familiar with the matter described as a Republican insider expressed concerns about Soros’s investment timing, as it suggests it might be aimed at swaying public opinion during an election year. “This is scary,” remarked the insider.
Audacy operates over 220 radio stations nationwide and spans almost every major market. The company declared bankruptcy last month and faces nearly $2 billion in debt. Its Chapter 11 restructuring plan suggests that current shareholders might lose their investment value.
The plan awaits judicial review with a court hearing scheduled next week in a federal bankruptcy court in Houston.
