Federal Communications Commission (FCC) Chairman Brendan Carr is set to meet with members of the Republican Study Committee this week to discuss regulatory concerns involving a major investment in local radio stations.
The closed-door session is expected to focus on media consolidation and the recent acquisition of a significant number of radio assets by a firm tied to investor George Soros.
According to multiple sources, Carr’s presentation to lawmakers will cover the regulatory procedures surrounding the purchase of over 200 radio stations previously owned by Audacy, a leading U.S. broadcaster. The stations
were acquired as part of a broader financial restructuring involving Soros Fund Management, which invested over $400 million in company debt during Audacy’s Chapter 11 bankruptcy process. Read more below
