Audacy purchase could impact conservative talk radio stations

[daveu]

The FCC granted its approval on September 30 to a restructuring and license transfer that will make a Soros-controlled investment firm the majority shareholder in Audacy, allowing the nation’s second-largest radio company to emerge from bankruptcy.

 

[radiofan2023]

Read and stop fearmongering:

FCC Approves Audacy Bankruptcy Restructuring

The FCC has approved the Chapter 11 bankruptcy restructuring of Audacy allowing the company to complete the process.

radioinsight.com

 

[TheBigA]

The FCC granted its approval on September 30 to a restructuring and license transfer that will make a Soros-controlled investment firm the majority shareholder in Audacy, allowing the nation’s second-largest radio company to emerge from bankruptcy.

This is a fake issue.

The same claim was made when his company was involved with the Latino Media Network. A group of republicans tried to prevent the sale. That was two years ago. There were no changes in the station programming.

Audacy is no longer a public company, so technically there are no shareholders. The Soros investment company owns $400 million in debt. Anyone else could have bought that debt. The FCC rules says ANY American can own broadcast media. It's not based on political party or interest. Republicans want to restrict ownership of media to people they like. That's illegal and unconstitutional.

 

[davideduardo]

This is a fake issue.

The same claim was made when his company was involved with the Latino Media Network. A group of republicans tried to prevent the sale. That was two years ago. There were no changes in the station programming.

In fact, there has been a bunch of changes in management while they try to make the stations, nearly all of which were not profitable to Univision, become viable. Essentially all of them have declined in ratings.

Audacy is no longer a public company, so technically there are no shareholders. The Soros investment company owns $400 million in debt. Anyone else could have bought that debt. The FCC rules says ANY American can own broadcast media. It's not based on political party or interest. Republicans want to restrict ownership of media to people they like. That's illegal and unconstitutional.

Actually, the objection was to the way the FCC was, in their opinion, "fast tracking" the transaction. The objections were procedural.

My guess is that they wanted to slow down the approval. What people in congress don't get is that stations can't suddenly have their formats changed and have a measurable impact on audience overnight... particularly in news and talk formats.

 

[TheBigA]

In fact, there has been a bunch of changes in management while they try to make the stations, nearly all of which were not profitable to Univision, become viable. Essentially all of them have declined in ratings.

But the point is there has been no change to programming. That's what the subject of this thread refers to.

Actually, the objection was to the way the FCC was, in their opinion, "fast tracking" the transaction. The objections were procedural.

They called it "the Soros shortcut," so obviously it was based on one man. The procedural objections were fake. As reported in the linked story, all other recent bankruptcy plans were approved the same way. There was no "fast track." The change to procedure was made by Ted Cruz. Not the commission.

What people in congress don't get is that stations can't suddenly have their formats changed and have a measurable impact on audience overnight... particularly in news and talk formats.

They also don't understand that not everyone thinks in terms of politics. Typical Washington view of the world.