Soros Buys Second-Largest Radio Group; 220 U.S. Radio Stations Ahead of 2024
by Emmitt Barry, Worthy News Correspondent
(Worthy News) – George Soros, a billionaire known for his left-leaning political stance, is acquiring Audacy, the second-largest radio company in America, which operates over 220 stations across the country, according to the New York Post.
Based on bankruptcy filings, Soros Fund Management has acquired $400 million worth of debt in the Audacy chain, the New York Post reported on Wednesday.
“Although not a majority, [that] could yield effective control of the media giant when it emerges from bankruptcy,” the Post reported.
Audacy, a significant player in the radio broadcasting industry, boasts ownership of over 220 stations spread throughout the United States, covering nearly every major market.
This extensive network allows Audacy to have a significant presence in the nation’s media landscape, reaching audiences in a wide array of geographic locations with diverse programming and content.
A source with ties to the GOP, described as being “close to the situation,” suggested to the Post that Mr. Soros’s acquisition during an election year could be an attempt to sway public opinion.
Audacy declared bankruptcy on January 7, carrying nearly $2 billion in debt. Its Chapter 11 restructuring plan is expected to erase the equity of its current shareholders. This plan necessitates judicial endorsement, with a hearing scheduled for Tuesday at a federal bankruptcy court in Houston to deliberate on the proposal.
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