George Soros fund poised to take control of nation's second-largest chain of radio stations

[cbabe]

https://www.msn.com/en-us/money/companies/george-soros-fund-poised-to-take-control-of-nation-s-second-largest-chain-of-radio-stations-this-is-scary/ar-BB1ihGze

George Soros fund poised to take control of nation’s second-largest chain of radio stations

Story by Josh Kosman, Ariel Zilber

George Soros is poised to take a massive stake in the nation’s second-largest radio company, which owns more than 220 stations nationwide, according to court filings and sources close to the situation.

The left-leaning billionaire’s Soros Fund Management has bought up $400 million of debt in Audacy — the No. 2 US radio broadcaster behind iHeartMedia with stations including New York’s WFAN and 1010 WINS, as well as Los Angeles-based KROQ, according to bankruptcy filings.

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.

[getagrip_already]

1. But reich wing owners buying every media outlet in sight is ok?

Now if faux goes bankrupt and gets put on the block, it might make an interesting buy.

[budkin]

2. SORRROOOOOOSSSSS! n/t

[Cha]

36. Living up to his reputation!💙🌊🇺🇸🕊️

[ificandream]

3. I hope Soros dumps Hannity off of every station he owns.

[malaise]

4. This is great news

Rec

[sop]

29. It's not "scary" to me.

I hope this helps to level the radio broadcast playing field that's been controlled by RW backers for far too long.

[malaise]

35. Yep

rec

[Unwind Your Mind]

52. Right?

We have nothing for good radio here and I live in the SF bay area for pete’s sake!

[markodochartaigh]

73. I listen to Progressive Voices on the internet radio.

I learn a lot from Background Briefing, the Bradcast, David Pakman, Nicole Sanders, and Mike Malloy, among others.

[Unwind Your Mind]

76. I do that and

Free speech tv on the app

I miss local talk though, especially when something is happening nearby.
We had KGO up until last year but that’s gone now too.

[I_UndergroundPanther]

118. Love free speech tv!

[Trueblue1968]

101. Yeah .... It is NO scary tome at all.!!!! What is scary is Faux NotNews. GOPig lies

Hat

[SergeStorms]

84. Just the fact that they're scared....

is good enough for me.

George Soros isn't as evil and vile as his right-wing counterparts. I'm sure saturating the airwaves with a left-wing agenda didn't have anything to do with Soros's decisions here. That's totally right-wing thinking, but I'm elated they believe the left has entered the ubiquitous propaganda market. 😉

[PTL_Mancuso]

110. Sad to say, but Propaganda is the Way

The time for hoping that The People would obtain and retain enough knowledge of our world and our past, and develop the kind of critical thinking skills JFK pushed for has, at least temporarily, passed. Short smart slogans and nasty stinger ads are the way to victory.

When Illinois Gov. Adlai Stevenson was running for president in the 1950s, a supporter purportedly said to him: "Every thinking person in America will be voting for you."

Stevenson replied, "I'm afraid that won't do — I need a majority."

[SergeStorms]

117. It is sad.

But you're correct. Democrats have always claimed the high ground in that department, and we usually got our butts handed to us for being too nice. We're starting to catch up with the republiCAN'TS in that area, though, out of pure necessity. Either that or keep losing elections.
It's a shame it has to be that way, but Adlai was prescient in that regard. In order to get a majority these days, and in many days past, we have to play the republiCAN'Ts game better than they do. The country and its citizens are worse off for it.

[dweller]

5. So with the increase in advertising $$

Does this mean our checks will get larger $$ ??
🤔

Just kidding/not kidding



✌🏻

[Dave in VA]

54. Damn right!

I've been waiting on my checks from him for years! Fox snooze has been telling everyone that I was going to get paid for all my work!

[ShazzieB]

59. Take a number and get in line!

This trope always kills me, because there are so many of us who could say the same!

[Lovie777]

6. About time..............................

[Liberal In Texas]

7. About damn time.

This has needed to be done for a couple of decades. Somebody has to put alternatives to the propaganda available.

[DBoon]

8. After reading about the Sinclair Network

I am very glad Soros is doing this.

Any potential political roadblocks? I know the House can hold a useless hearing, but could they or a conservative court block this?

[BumRushDaShow]

34. "Any potential political roadblocks? "

This is "market forces" baby...

He bought a big chunk of the debt.

When they deregulated the space back in the '90s (yes under Clinton), that blew open the ability to buy bundles with hundreds of stations. The only "main" regulation was a limit on stations with the same affiliation (although they still allow it because we have 2 Audacy stations that are CBS affiliates, although they sort of juggle who runs the CBS news blips).

[DBoon]

71. The Latino Media Network *did *complete their purchase of "Radio Mambi" in Miami

Despite screams of censorship from right wing Cuban immigrants and protests from Marco Rubio and DeSantis:

But the deal isn’t going over well in Miami, where Radio Mambi is popular among hardline Cuban exiles.

“We would need to be deaf and blind not to understand the motives behind this buyout," Irina Vilariño, who co-owns a chain of Cuban restaurants in South Florida, said at a news conference held by a coalition called the Assembly of the Cuban Resistance.
...
The deal has been harshly criticized by Republicans in Florida, from the Cuban American House delegation to U.S. Sen. Marco Rubio and Gov. Ron DeSantis. Coalition members said they are exploring legal ways to contest the takeover.

https://www.nbcmiami.com/news/local/miami-cubans-oppose-democrats-spanish-language-radio-deal/2780647/

Their "legal ways to contest the takeover" did not work.

[BumRushDaShow]

72. Anything that makes the GOP mad

is fine with me!

[PTL_Mancuso]

111. Right-o! It's Just Simple Math: GOP Griping Something Good for The People

[flying_wahini]

9. Good, go stick it to them, Soros. Better late than never.

Then do it to Cable News next.

[rubbersole]

11. Moneyed investors can see the desired advertising demographic...

...18-34 year olds are overwhelmingly liberal. I'm surprised that media moguls don't follow the trend. I guess paying taxes is not something they're going to risk.

[et tu]

23. ditto! nt

[MustLoveBeagles]

10. Good

This should've happened decades ago.

[hlthe2b]

12. RW-controlled for years, but now they are "scared"... ROFL

[spanone]

13. K&R

[Bluethroughu]

14. Yes!

[GB_RN]

15. But It's OK...

For Sinclair Broadcasting to lie to all of their listeners 24/7/365?

Fucking hypocritical sonofabitch.

[Scrivener7]

16. Nice!

[Kid Berwyn]

17. No Hate Radio?

How different the world today would be.

[et tu]

24. but what will they talk about?

real life issues i hope~

[BumRushDaShow]

18. OMG FINALLY

“This is scary,” the source said.

Really?

And note that Audacy owns many of the old Westinghouse/Infinity stations like KYW 1060 here in Philly (currently a CBS affiliate as a result of the Viacom media days, but previously an NBC one back in the day).

They will never think that crap like "iHeart" (formerly the notorious "ClearChannel" broadcasting) or "Sinclair" is "scary" because it was their "smart" propaganda strategy.

I guess they are saying "Ohhhh shiiittt... they finally figured it out".

[calimary]

20. I just hope Soros doesn't let us down...

[BumRushDaShow]

28. Well I was doing some searches after seeing the OP

and saw where he bought Audacy's debt for 50 cents on the dollar, and apparently there are stations in the bundle that run RW loon fare (I know a station here in Philly - WPHT 1210 - does), so some in the RW broadcast-o-sphere are shaking in the boots.

I don't know how much "micromanaging" he (or better, his company) plan on doing, but any kind of "balance" - like replacing some loon programs with some liberal ones, would go a long way after almost 4 decades of liberal talk having been wiped off the air. And not just "talk" but every day local programs like gardening, real estate, health matters, home improvement programming, etc., were ditched for more RW loon programs.

We would need hosts ready to go and then syndicate them. THAT is how they have operated for years and years.

I know one of my long time complaints that I have voiced on DU is our ignoring "AM radio" at our own peril. The biggest voter demographic still listens to AM (whether OTA or now streaming including as "podcasts" ) and AM is the entrance media to the rural areas that have little or no internet access that would allow streaming (or at least a reasonable amount of it).

[BigMin28]

38. They still rely on AM radio

to get the hateful message out. That's why Cruz and company are fighting the car companies discontinuing AM radio in New cars. Cruz wants a law to make car manufacturers keep them.

[BumRushDaShow]

46. Exactly

That has been their main propaganda tool.

[mwooldri]

79. There's no saving AM radio.

Cruz and Co may make laws requiring auto manufacturers to keep AM radios in vehicles but AM is definitely on a deathwatch.

Worldwide, AM stations are closing down. A whole wave band - long wave - is for practical purposes dead. Short wave is a shadow of its former self. Regular AM - stations are closing all the time. India is however going digital in the AM and shortwave bands. Norway has even gone so far to turn off all analog radio.

The USA is far behind in the digital radio transition. People have switched from regular broadcast listening to Internet listening, generally by smart speaker in the home.

[summer_in_TX]

96. There are good reasons to keep local radio - whether AM or FM. Public safety alone is reason enough.

As a founder and volunteer for a local community radio station, my town is far safer and more connected to one another because we have this hyper-local station. Its content is produced by local volunteers, it isn't involved in political discussions because we are here to help bring the community together and things are too polarized to do it now. Plus, economically we wouldn't survive if we were perceived as left or right.

We are a town that is in a flash flood alley and can get many inches of rain in a single hour – or be tinder dry in droughts and prone to wildfires. So the low powered FM station is a boon to our community. That could be what other communities regain, if the value of localism comes back. (Not sure it will, considering the corporate incentives for maximizing profit, unfortunately.)

Radio technology is free (or virtually so) for those on the receiving end and non-techies can access it easily.

[PTL_Mancuso]

113. Agreed! Just simple, basic AM and/or FM capability should be maintained!

It does not rely on any intermediaries. At least for emergency stuff. Like CONELRAD!

[link:https://en.wikipedia.org/wiki/CONELRAD]

CONELRAD

From Wikipedia, the free encyclopedia

Type Emergency warning system
Country United States
Broadcast area Nationwide
Ownership
Owner Federal Civil Defense Administration
History
Launch date 1951
Closed August 5, 1963
Replaced by Emergency Broadcast System (as Emergency Action Notification System)
Coverage
Stations 640 AM or 1240 AM
Transmitters Various
CONELRAD (Control of Electromagnetic Radiation) was a method of emergency broadcasting to the public of the United States in the event of enemy attack during the Cold War. It was intended to allow continuous broadcast of civil defense information to the public using radio stations, while rapidly switching the transmitter stations to make the broadcasts unsuitable for Soviet bombers that might attempt to home in on the signals (as was done during World War II, when German radio stations, based in or near cities, were used as beacons by bomber pilots).

U.S. President Harry S. Truman established CONELRAD in 1951. After the development of intercontinental ballistic missiles reduced the likelihood of a bomber attack, and the development of superior navigation systems that did not rely on radio direction finding for use in those bomber aircraft which were sent against the United States, CONELRAD was replaced by the Emergency Broadcast System (EBS) on August 5, 1963, which was later replaced by the Emergency Alert System (EAS) on January 1, 1997; all have been administered by the Federal Communications Commission (FCC).[1]

Unlike the EBS and EAS, CONELRAD was never intended for use in local civil emergencies such as severe weather. However, the system's alerting protocol could be used for alerting of a natural disaster by 1957.[2]

[Hermit-The-Prog]

40. Adding insult to injury, many universities run AM radio stations with RWNJ

Bidenomics will help here. I am able to stream HD video now, 'way out here in the wilderness, thanks to Joe and the Congressional Democrats -- fiber rulez!

[BumRushDaShow]

49. Add to this that Universities are those stations additional "income"

(running the sports games over weekends)

You were fortunate to get fiber run where you are. Still so many places without that and few cell towers. Some rely on satellite (TV and radio) but that doesn't help with streaming (although there was some older satellite streaming tech at some point that was pretty bad with lag - however the more recent infamous "Starlink" probably works better - at least to some degree, but still not ideal).

But AM has the penetration (FM has a limited range although I expect that digital AM probably has limits now too).

[BComplex]

115. Wouldn't it be amazing if Soros' foundation could buy Starlink from Elon?

Remembering how Elon cut off Ukraine from Starlink at one point when he was having a serious putin love crush. It didn't last long, but, IMHO, Elon Musk is a serious world wide risk. The guy is as unhinged as trump and many of those supporters.

[BumRushDaShow]

116. Maybe some of the techy billionaires could buy that

although the issue with StarLink is getting the sats launched and Musk is the main one in town doing continual launches.

[calimary]

50. Yes indeed. Liberals have to start making inroads.

It’s a sad day when our worldview is crowded out by wall-to-wall knuckledraggers on the radio.

[BumRushDaShow]

53. I know many of remember when Al Franken, et al, tried

with Air America (where Rachel emerged from) and it proved costly to maintain.

What we have to realize is that the GOP and their funders, are willing to "sacrifice $$$$" for a "cause". THAT is their "donation" and they will run themselves into debt without a profit in order to promote their nuttery. The "Washington Times" had been one such money-losing endeavor for years.

[electric_blue68]

80. I loved Air America! 🧡😔

[calimary]

106. I did, too. I'd listen when I was driving.

I remember feeling really pleased that WE finally had a radio network for OUR side, instead of nonstop fucking conservative talk all the time. I really enjoyed listening to something that didn’t make me mad all the time! Boy, that sure didn’t last long.

[electric_blue68]

124. I remember I was at probably a Choice (Roe v Wade )March, and Rally...

telling everyone to go listen to Air America.

A bunch of people complained it wasn't "professional" enough sounding, or whatever. It was fine, and wonderful by me.
Sigh.

[SouthBayDem]

104. Even in the 2020s, radio does remain relevant.

I know it's easy for me (who was finishing high school when Obama first ran for president) to say "people prefer YouTube, podcasts, or blogs." But there's a reason the word "broadcasting" includes "broad". Not everywhere has reliable Internet access that can accommodate streaming media. And then there are times the power goes out but you've got a battery powered radio.

The question though, are there enough listeners and interested advertisers to justify the costs of creating a left wing talk show to compete with the likes of Bongino or Hannity? It was hard enough in Air America's day to reach for an audience that preferred books, blogs, or other non radio media. Maybe today, a more effective version of Air America would integrate YouTube, Spotify, and other online platforms as supplemental to the radio part.

[orleans]

64. chicagoland has wcpt (i heart radio)

and we listen to stephanie miller, thom hartmann, joan esposito, patti vasquez then hal sparks and "out" chicago on saturday & sunday
to name some of the lineup

[BumRushDaShow]

66. That needs to be syndicated to other stations in other locales

I had heard they were airing out there and I know that I can hear some of those folks like Miller, Hartman, Fugelsang, et al, on my SiriusXM sub's "Progress" channel, obviously for cost.

But that needs to be added to stations that don't have that programming and it should replace the RW loon crap currently running on those stations.

[orleans]

90. you can go online and stream the shows

but i want left wing/progressive talk radio on am radios in the cars and trucks for those driving.

i can get wcpt on the am car radio and inside the house but those shows need to replace some of/a lot of those hate radio shows. and get some left leaning shows going on spanish stations too

[BumRushDaShow]

107. Oh sure

but some of the demographic in rural or even mountain areas have limited capability to stream which is why OTA radio is sorely needed.

[orleans]

65. dupe post. oops

[EYESORE 9001]

32. You would consider that within the realm of possibility?

Can you explain your concern?

[Hermit-The-Prog]

43. Don't know about calimary's concerns, but ...

I would not be surprised if there were no big changes for a while. Money will need to come in and the company may not want to upset the revenue stream very drastically.

[summer_in_TX]

97. I'm sure you are right.

Changes take time, and turning things around financially is going to be extremely tricky. The model for profitability for these stations has tanked. Maybe restoring the stations to serving their local communities better with more local content will begin to turn things around. But with the phenomenal amount of competing media including social media, it'll be dicey.

[LastDemocratInSC]

19. The RW station with the best ratings in this area is owned by Audacy.

They gripe about Soros this and Soros regularly. Now, maybe they'll stuff a sock in it.

[jaxexpat]

21. Can he give us NPR back?

[lindysalsagal]

41. NPR circa 1982, please. I have no use for the current npr.

[rurallib]

62. any time in the Bob Edwards era

[BaronChocula]

22. HALLELUJAH!

Between Russian trolls and Sinclair media, lesser engaged Americans (I'm being generous here) are believing what they hear and not what they see. Time for them to get a big Soros ear injection.

[PlutosHeart]

25. Kick in some money Taylor.

🤣

[Nittersing]

26. On first read, I thought the headline said, "George Santos fund poised to take control"

The real headline is better.

[NBachers]

27. Be like your leader and shit your own pants, maggots!

[orangecrush]

30. GOOD

Beat the bastards at their own damn game.

[underpants]

31. Our local talk radio station is Audacy

That’s hilarious. They carry Glen Beck too and he loves Soros rants.

[NoMoreRepugs]

33. Losing some control over the airwaves is scary to RePutinicans.

[oldmanlynn]

37. This is great news. I had just emailed TheDemocrats on twitter and

The DNC for the upteenth time about getting inroads to rural communities via radio stations like Sinclair does. Not that my messages had any effect.

Now we will hopefully counter the false propaganda from sinclair with TRUTH propaganda

[bagimin]

39. If he would have done this 10 0r 15 years ago

we might not be in the worldwide mess we're in. We don't know if he is planning format changes, do we? Hope and pray.....omg.

[lindysalsagal]

42. Looking forward to hearing about progressive issues asap.

[Bev54]

44. Wish he could buy out Sinclair

[DoBW]

45. I hear ya

Sinclair = Pravda

[Duppers]

99. YES❗

[jeffreyi]

47. At first I read George Santos...

Wha....? The heck. Doubletake. George Soros. Maybe he is one of the good guys.

[Red Mountain]

57. If it WAS George Santos.....

He wrote them a check.

[mitch96]

48. ""This is scary," the source said."... suck it up.... this is what the opposition is doing with their Reich wing

media... So you don't like it when there is competition???
Where is their sense of capitalism, eh?
A bunch of hypocrites if you ask me...
m

[Joinfortmill]

51. Good.

[aggiesal]

55. The main purpose/goal for Soros is to spread and aid democracies. ...

That is what Soros does around the world.

If the (R) "... 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."
well, anything is possible.

But I believe that (R)'s are anti-democracy and Soros wants to preserve democracy in our country. If “This is scary,”, I can see why the (R)'s don't want Soros to have anything to do with such a large 220 radio station network.

[Monsieur_Grumpe]

56. Good! The airwaves have had a right wing bias for too long.

[PortTack]

58. That is the best news for two reasons!l one, the obvious, secondly the RWNJs are going to EXPLODE!!

[ancianita]

60. Soros has been maligned for things he's not done, so let him finally give the RW message machine something to fear.

Where the syndicated shows come from will be interesting.

[Farther]

61. Here is a link to a list of audacy stations

https://en.wikipedia.org/wiki/List_of_radio_stations_owned_by_Audacy,_Inc.

[DBoon]

63. "Scary" to them is not having a complete monopoly over radio

Allowing people to listen to liberal voices over a competing network would be called "censorship"

[The Bopper]

67. We'll see

In my area we have at least 5 so-called conservative radio stations, including an AM station that can be heard 500 miles away at night.

[Jeebo]

68. Harry Truman said ...

"Republicans complain that I give them hell. All I do is tell the truth, and they think it's hell." That might not be an exact quote, but I'm sure it's pretty close.

They have a right-wing propaganda network, but we don't need a left-wing propaganda network. All we need is a network that reports the news, fairly and accurately. We'll be fine if we just get the truth into the public consciousness.

-- Ron

[summer_in_TX]

98. The truth is exactly what's needed.

In-depth stories that allow listeners to hear a range of well-thought out takes from a variety of points of view here and there would be a big improvement – with the idea that the right to hear multiple perspectives is a basic American value in order to accomplish what the Founders envisioned for this country.

[pecosbob]

69. Cue the RW melt-down

[Beartracks]

70. Rightwingers always present themselves as politically neutral while left-leaning is "exerting influence" and "activist."

Rightwingers presenting as neutral is fake news, right there.

Getting some balance back on the airwaves would be a boon to democracy -- and the quoted Republican finds that prospect "scary."

==========

[hadEnuf]

74. Stuff like this buyout needs to happen +100 times over.

Start breaking the propaganda stranglehold that the right wing has on media.

There isn't any Fairness Doctrine coming back any time soon. Start fighting these fuckers on their own level for a change.

[TygrBright]

75. Maybe this will finally get Sinclair broken up and sold off. n/t

[oasis]

91. The Maga cultists are fueled by lies.

Get rid!

[OAITW r.2.0]

77. Listen and learn. What's the problem here?

Seems like RW radio bulldozed the spectrum for 40 years....now folks will actually learn things if they tune in. Thanks George!

[dalton99a]

78. About damn time

[electric_blue68]

81. Oh! Sounds good! 👍 🤞🤞🤞🤞

[Eliot Rosewater]

82. Thank god FINALLY

[COL Mustard]

83. Sorry, I had to do a double take, and then take another look!

I first read "George SANTOS"...

[Deuxcents]

85. I've heard Thom Hartmann talk about the RW control of radio stations many times. I wonder what he'll have to say about t

[cbabe]

86. A caller brought it to his attention. Yesterday? Which is how I first heard the news. He hasn't yet commented.

[Deuxcents]

95. 🙏

[soldierant]

87. One person's "scary" is another person's "Thank God! Finally!"

[ffr]

88. Good! Maybe they'll stop with the RW talking points morning shows.

When those started up a couple decades back, I stopped listening to radio. Who needs the propaganda drilled into them. Besides it made me resentful, hearing them insult those of us who don't need someone else to think for us.

[Duppers]

89. 👏

[Ohio Joe]

92. 1010 WINS

As a child in the late 60’s, early 70’s, it was all my grandmother listened to… All news, all the time. I’ve not listened to it in decades though, I wonder if it still is.

[WA-03 Democrat]

93. Finally - The Liberal Media

I like it!!

[UCmeNdc]

94. Good for him. It is about time.

[SunSeeker]

100. 92% of talk radio stations (236 out of 257) broadcast no progressive programming.

A startling percentage of the political and talk radio broadcast each day is conservative—91 percent. https://www.americanprogress.org/article/talk-radio-by-the-numbers/#:~:text=Yet%20a%20startling%20percentage%20of,day%20is%20conservative%E2%80%9491%20percent.

It would be nice to get a little more balance.

[Hekate]

102. Interesting

[SouthBayDem]

103. This is a repost of a New York Post article, by the way.

The NY Post is Murdoch's tabloid.

Audacy inherited many stations that used to be part of the Westinghouse/Infinity/CBS variants of companies including some right wing talk stations in Austin, Las Vegas, Philadelphia, Richmond, and St. Louis.

[Frasier Balzov]

105. Now we're getting somewhere.

Rush Limbaugh went national thirty-five years ago.

Air America was under-capitalized.

Too many people captive to right-wing propaganda in their cars.

[Haggard Celine]

108. I wish Art Bell was still alive.

I used to love listening to him late at night on a AM station. George Noory is a pale representation of Art Bell. Soros needs to have someone as playfully scary as Art Bell. There's a demand for that kind of show. I would listen to it every night.

[cbabe]

119. Art was fun. George Noory went hard right. Called Alex Jones a friend of the program, for example.

[Haggard Celine]

125. Noory's show consists of commercials with

a little bit of dialogue in between. I wish we had someone like Art today. I'd definitely tune in.

[Haggard Celine]

109. I wish Art Bell was still around.

I used to love listening to him late at night on an AM station. George Noory is a pale representation of Art Bell. Soros needs to have someone as playfully scary as Art Bell. There's a demand for that kind of show. I would listen to it every night.

[SKKY]

112. If I can quote Lizzo here for a second...

..."It's about damn time."

[Yo_Mama_Been_Loggin]

114. Damn

There goes that monthly check we've been getting from him.

[DownriverDem]

120. What we really need

I have been wondering when our side would have a chance to get our story out.

[dlk]

121. Fantastic news!

Right-wing zealots have been poisoning our airwaves for far too long and we have seen the awful results. Bravo Soros!

[DC77]

122. Finally

the “other side” the people need. The right side. As in correct.

[TexasBushwhacker]

123. George Soros is 93

Is one of his sons running things?

[Catherine Vincent]

126. Scary because he's left wing?

Hooray for Soros!