The Federal Communications Commission (FCC) granted approval on Monday for the transfer of licenses for 200 radio stations to a company controlled by the Fund for Policy Reform, an organization financially supported by billionaire George Soros.

The FCC’s decision faced opposition from its two Republican commissioners, Brendan Carr, the most senior Republican member, and Nathan Simington. They objected to the transfer of licenses from the financially troubled radio company Audacy Inc. to the Fund for Policy Reform. The deal establishes a new structure for Audacy, with a four-member board that includes George Soros’ son, Alexander Soros.

This development follows a recent announcement from Republican lawmakers, Representatives James Comer of Kentucky and Nick Langworthy of New York, who revealed an investigation into the FCC’s handling of the transfer. They argue that the agency disregarded concerns about possible foreign involvement in the deal.

“The FCC appears to be bypassing standard processes and procedures in an unprecedented way to benefit a Democrat megadonor acquiring a major equity stake in hundreds of local radio stations across the country,” the legislators stated in a letter addressed to FCC Chair Jessica Rosenworcel.

The FCC filing on Monday noted that the four members of the Fund for Policy Reform’s board are all U.S. citizens. Additionally, Audacy’s CEO, David J. Field, will remain in his role at the restructured company and continue to serve on its board.

“We’re big believers in audio, and we’re very well positioned to exceed and excel going forward,” Field shared in an interview with Bloomberg. “We’ve continued to really enhance our ad tech, data capabilities, and content and have emerged as a much stronger company than we were a year or two ago.”

{Matzav.com}