Far-left billionaire and political activist George Soros could soon decide what kind of radio content millions of Americans are exposed to every day.
Given that AM and FM radio are still huge mediums for entertainment and information for millions of people, this should concern everyone with any interest in the upcoming and crucial 2024 election.
If conservatives have learned anything from Soros’ activities throughout the decades, it is that when he throws a lot of money around, it’s best to pay attention.
According to numerous reports, the political activist, 93, recently shelled out $400 million to acquire the debt of the country’s second-largest radio broadcaster, which filed for bankruptcy last month.
Audacy, formerly Radio.com, filed for Chapter 11 Bankruptcy in January, Reuters reported. According to the New York Post, Soros Fund Management purchased 4o percent of the company’s debt for pennies on the dollar.
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One insider at the company actually categorized Soros’ potential influence over vast Audacy’s catalog of nationwide radio stations as “scary.”
When pressed for comment on Soros’ involvement, a representative with Audacy told the Post the billionaire did open his checkbook but declined to comment on him specifically.
In a bland statement, the representative said the total investment in Audacy from multiple investors is a “vote of confidence” in the future of radio.
“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,” the statement read.
Will minority ownership in Audacy offer Soros a thumb on the scale amid a coming information war? It’s too early to tell, but let’s take a look at the facts.
Audacy Has Stations from Coast to Coast in Most Major Markets
According to the company, Audacy has a presence in virtually every major market in the 2020 battleground states, as well as stations peppered across red and blue states alike.
These include everything from talk radio stations in Ohio to sports talk stations in Texas — and seemingly everywhere in between and in basically every genre of radio.
In all, Audacy operates more than 200 radio stations nationally and is second in size only to radio giant iHeartMedia. That amount of reach cannot be overstated.
Under its previous management, Audacy already stated a clear commitment to diversity, equity, and inclusion initiatives.
The company’s current management says of its DEI commitment, “We are a place where all employees can achieve their goals and contribute to our collective success. And for our communities, we create inspiring content, conversations and experiences that are as unique and varied as the listeners we serve.
“Through celebrating our diverse teams to strengthen a culture of inclusion and respect and doing our part to foster an equitable nation, we put our values into action — because it’s always the right thing to do.”
Given the company’s existing leftward tilt, one could only imagine how it might be run if Soros gets behind the wheel.
The Relevancy of Radio in the Age of Social Media
While radio and television are often considered dying mediums as people have switched to websites such as X (formerly Twitter), YouTube and Facebook, radio is still popular.
In fact, according to Musical Pursuits — which tracks Americans’ radio habits — more Americans listen to either AM or FM radio each day than use Facebook.
Additionally, 55 percent of Generation Z listens to radio every day while Americans on average listen to more than 12 hours of radio every week.
One more bit of interesting information from Musical Pursuits: “Radio holds the highest share of collective trust across all advertising channels.”
While people tend to spend a lot of time on social media, it’s safe to say radio isn’t going anywhere anytime soon. People still rely on old-fashioned radios for music and information while working or driving.
Per Audacy, its stations reach 200 million people in any given month.
But the question is, will Soros’ stake be enough for him to influence what Americans hear this year and in the near future?
The answer could be complicated.
It Remains to Be Seen What Soros Intends to Do with His Stake in Audacy
Soros did not become a billionaire by being stupid, even if those of us on the right are repulsed by his open borders politics and support for diluting American culture and sovereignty.
The purchase of 40 percent of Audacy could simply be a good business strategy for the man who has spent decades earning fortunes just to spend them on helping the Democratic Party advance its perverse agenda.
On the other hand, his interest in a stake in something that could potentially influence the opinions of voters must be eyed with suspicion.
A person who claimed to know Audacy intimately expressed fear about Soros’ purchase of the company’s debts but did not comment much further.
Josh Kosman and Ariel Zilber with the Post reported, “One insider close to the situation, noting that he was a Republican, said he believed it was possible Soros was buying the stake to exert influence on public opinion in the months leading up to the 2024 presidential election.
“‘This is scary,’ the source said.”
As the Post noted, Soros only acquired 40 percent of Audacy’s debt, but it is to be determined if that will give him the power to make personnel decisions at the company’s stations when Audacy emerges from bankruptcy.
While the investment is big, a 40 percent share in the company would not make the far-left activist a majority stakeholder.
Then again, no details are available about what the company will look like a few months from now.
In any event, Soros is now heavily invested in radio through a company that reaches millions of people every day, and his potential to influence the upcoming election cannot be overlooked.
