Report: George Soros Aims to Build An Audio Empire

George Soros

George Soros, the billionaire investor and founder of Soros Fund Management, seems to have a keen ear for business opportunities, according to Semaford.com. Over the past two years, his firm has strategically entered the world of audio media, particularly radio and podcasts. 

Let’s explore how Soros is shaping an audio empire:

Audacy: In February, Soros Fund Management became the largest shareholder in Audacy, the second-largest radio company in the U.S. Audacy boasts over 230 stations across the country and also has a podcast arm that includes Cadence13 and Pineapple Street Studios.

Crooked Media: Soros invested an undisclosed amount in Crooked Media, a liberal podcast network known for producing the popular show "Pod Save America"1. This move aligns with Soros’ liberal agenda while also recognizing the growing influence of podcasts.

Univision’s Hispanic Radio Stations: A Soros-backed firm played a crucial role in Univision’s $60 million sale of 18 Hispanic radio stations to Latino Media in 2022. The new firm taking over these stations is led by veterans of Democratic politics. Notably, this deal included conservative Cuban powerhouse broadcasters in Miami, which drew opposition from Republican members of Congress.

Future Acquisitions: Soros Fund Management’s entry into the radio business could be just the beginning. The fund has privately discussed acquiring other major radio companies, including the publicly traded Cumulus Media. Regulatory limits on radio station ownership impact the feasibility of such mergers, but Soros’ team has been exploring potential targets. These include podcast companies like Pushkin Industries (founded by Malcolm Gladwell and Jacob Weisberg) and Lemonada (known for its interview show hosted by Julia Louis-Dreyfus).

Soros Fund Management operates at the intersection of financial gain and extreme left-wing values. While Soros has often clashed with right-leaning figures, the fund maintains that its strategy is purely financial. For instance, the acquisition of Audacy was driven by a careful management approach to the company’s debt. However, Soros’ investments also reflect a bet on the future of audio through the thriving podcast industry.