FCC's Carr Explains Audacy, Soros Deal With Lawmakers

FCC Chairman Brendan Carr Wednesday updated House GOP members to discuss concerns surrounding the influence of George Soros’s investment firm on Audacy. 

Carr briefed the Republican Study Committee (RSC), a group of 175 Republican lawmakers led by Rep. August Pfluger of Texas, during their weekly closed-door lunch. The focus of this meeting was Soros’s acquisition of a significant stake in Audacy, which operates over 200 radio stations across the U.S.

Carr’s discussion centered on what he and some GOP lawmakers have called an “unprecedented” move by Soros’s investment fund, which acquired roughly 40% of Audacy’s debt following the company’s Chapter 11 bankruptcy filing. 

The deal, finalized late in the Biden administration, was reportedly fast-tracked by the FCC under its previous Democratic leadership, raising eyebrows among Republicans. Carr and critics, including Rep. Chip Roy of Texas and Sen. John Kennedy of Louisiana, have called for scrutiny of the transaction, questioning its implications for media ownership and potential bias in broadcasting.

During the briefing, Carr outlined how the FCC approved the necessary licenses for this acquisition and shared his perspective on its broader impact. The Soros-Audacy deal has become a flashpoint for GOP concerns about liberal sway over media outlets, and Carr’s appearance before the RSC reflects his intent to address these issues transparently with Republican lawmakers.