George Soros To Take Control Of America’s Second-Largest Chain Of Radio Stations
OAN’s James Meyers
2:42 PM – Wednesday, February 14, 2024
The left-leaning billionaire George Soros will be purchasing the second-largest radio company in America, according to court filings and sources close to the situation.
The Soros Fund Management has bought up $400 million of debt in Audacy, which owns over 220 radio stations across the country.
According to a Republican insider that spoke to the New York Post, he believes it was possible Soros was buying the stake to help influence public opinion for the months prior to the 2024 presidential election.
“This is scary,” the source said.
Sources claim that Soros’s stake is equal to close to 40% of the company’s senior debt, a high enough percentage that could yield effective control of the media giant when it emerges from bankruptcy.
Additionally, Audacy confirmed the Soros investment after multiple sources confirmed the deal.
“The decision by our existing and new debtholders to become equity holders in Audacy represents a significant vote of confidence in our company and the future of the radio and audio business,” Audacy said in a statement.
Meanwhile, a hearing to approve the Audacy restructuring plan is slated for February 20th in a Houston bankruptcy court.
This comes after the radio company filed for bankruptcy on January 7th after compiling $1.9 billion of debt. Under the current chapter 11 bankruptcy plan for Audacy, shareholders who have a stake in the company will be taken off.
https://www.oann.com/newsroom/george-soros-to-take-control-of-americas-second-largest-chain-of-radio-stations/
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