Just another right wing clutching their pearls whenever they hear the name "Soros".New petition to reconsider the FCC approval of the Audacy bankruptcy plan from Brent Bozell:
Conservative Group Petitions FCC To Rollback Approval Of Audacy Reorganization.
Brent Bozell’s Media Research Center, the conservative group that unsuccessfully tried to convince the FCC to reject Audacy’s bankruptcy reorganization plan, is not yet giving up. The group has filedwww.insideradio.com
He claims there was no assessment that the plan was in the "public interest." He also continues the debunked claim that the foreign ownership waiver has anything to do with Soros.
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Audacy Bankruptcy Goes To FCC
- Thread starter TheBigA
- Start date
He also invests in depleting oilfield "joint partnerships". These are investment vehicles that pay a huge return from the extraction of oil from fields that are nearing their end of life. Let's say that the field will have 20 more years of life, on a declining output. But this year you can get 18% to 22% income on the investment, and 17% to 21% the next year and so on.
If you feel inflation is somewhat under control, then those are good investments. Think of radio that way. With it's debt significantly reduced there is a good bottom line profit to be distributed, and it should continue for years.
By keeping Audacy private, he ensures his investment will not be degraded by other stockholders.
New petition to reconsider the FCC approval of the Audacy bankruptcy plan from Brent Bozell:
Conservative Group Petitions FCC To Rollback Approval Of Audacy Reorganization.
Brent Bozell’s Media Research Center, the conservative group that unsuccessfully tried to convince the FCC to reject Audacy’s bankruptcy reorganization plan, is not yet giving up. The group has filed
He claims there was no assessment that the plan was in the "public interest." He also continues the debunked claim that the foreign ownership waiver has anything to do with Soros.
In case anyone here doesn't recognize the name he's a longtime rightwing agitator who was a primary instigator over the Janet Jackson Super Bowl wardrobe malfunction incident and has harassed to American media organizations for decades.
L. Brent Bozell III - Wikipedia
To clarify one thing: Any broadcast owner is entitled to program his/her radio station as they see fit. That includes EMF and Salem. If Salem, Elon Musk, or anyone else wanted to buy $400 million in Audacy debt in order to further their ideological views, there is nothing the FCC can do about that. The FCC chairman made that point clear in her statement to congress earlier this week.
Indeed, one of those who believes that he, and nobody else, is right about everything.
I did not appoint him as God. Did anyone else?
According to this article, Bozell also had someone else writing his columns, but Bozell still got 80-90% of the profits. I think the L. stands for “Lazy”!
Brent Bozell Called Journalists Lazy In Columns Someone Else Wrote For Him
Brent Bozell has staked much of his career on challenging what he...
talkingpointsmemo.com
Let's not get too far into partisan politics.
Because of what Soros did to the British economy with his currency speculation, I am skeptical if not disdainful for any statement he makes about "helping the people". That is not political, it is societal... and opposing Soros' philosophies is not "anti-Semitic" at all.
(And having assisted in a collaboration with Israeli intelligence when I lived in South America sort of puts me in the "pro" category)
I said that the new owner's political focus has removed all interest in the station itself.
While the most famous commentators left, the listeners who believe in a Free Cuba and a Free Venezuela left with them.
A couple of commentators who stayed said that they had to because they needed the employment. Since the new owners have no program strategy at all, they are biding time.
and a guy who targeted pro wrestling in the Attitude era in the late 1990s and early 2000s, hell, WWE won a lawsuit over the PTC back in the 2000s.In case anyone here doesn't recognize the name he's a longtime rightwing agitator who was a primary instigator over the Janet Jackson Super Bowl wardrobe malfunction incident and has harassed to American media organizations for decades.
L. Brent Bozell III - Wikipedia
en.wikipedia.org
More details on the foreign ownership waiver sought by Audacy:
www.insideradio.com
Contrary to the views given by conservative groups, the waiver has not yet been granted by the FCC. In this filing, they identify the investor with foreign funding. They seek only a 49% foreign waiver, which is smaller than the other radio groups. They explain how this is in the public interest.
Audacy Asks For Permission To Increase Foreign Ownership Levels.
The next step in Audacy’s financial restructuring is in the hands of the Federal Communications Commission. The company has petitioned the FCC to allow it to increase its foreign ownership
Contrary to the views given by conservative groups, the waiver has not yet been granted by the FCC. In this filing, they identify the investor with foreign funding. They seek only a 49% foreign waiver, which is smaller than the other radio groups. They explain how this is in the public interest.
The Audacy bankruptcy case is officially closed:
www.insideradio.com
Court Issues Decree Officially Closing Audacy’s Bankruptcy Cases.
Nearly eleven arduous months after first filing for Chapter 11 bankruptcy protection, Audacy has received a final court decree officially closing the reorganization. Late last week, U.S. Bankruptcy Judge Christopher
Do you think it will be a publicly listed stock again? The only way I would buy stock in Audacy would be at least 5 quarters of increasing positive free cash flow after they funded their debt for each those quarters.
When the current bond holders want to cash out. An IPO is really the only way for them to raise that kind of money.
They wouldn't be targeting individual investors. Such a thing would be for long term institutional investors.
Incoming FCC chairman Carr said he will take a hard look at Brent Bozell's petition to reconsider the Audacy bankruptcy approval:
www.insideradio.com
Incoming FCC Chief Says Audacy Reorg To Get ‘Hard Look.’
The FCC may have already approved Audacy’s bankruptcy reorganization along a 3-2 party-line vote in September, but whether it holds is being called into question. Incoming FCC Chair Brendan Carr,
Incoming FCC chairman Carr said he will take a hard look at Brent Bozell's petition to reconsider the Audacy bankruptcy approval:
Incoming FCC Chief Says Audacy Reorg To Get ‘Hard Look.’
The FCC may have already approved Audacy’s bankruptcy reorganization along a 3-2 party-line vote in September, but whether it holds is being called into question. Incoming FCC Chair Brendan Carr,
I don’t know: can the FCC rescind an approval once granted? It would seem that any adverse action coming from the FCC would have to have some original basis to have any chance whatsoever of surviving a court challenge.
Being able to count on regulatory stability is an issue that I believe courts will take seriously.
In short, I suspect Carr is putting on a performance.
A performance for an audience of one.
Half the country still seems to be living in denial about how little existing precedents mean to an incoming administration emboldened by its control of every branch of government including the Supreme Court, and a leader with no guardrails who could not care less about how things have always been done.
And what court is that?
Again, I believe this is a form of denial, at least when it comes to the Supreme Court. But keep in mind, Trump already has many appointees serving on lower courts too. Just ask Aileen Cannon.
I fully expect this administration to hold those guardrails in contempt, but I'm not convinced that the courts are going to be willing to go along with that. And if Carr attempts to rescind a decision that was made several months before the start of his time at chair at the FCC, the affected parties can and will take it to court.
So I expect that if Carr tries to do this, the courts will hand him his rear end. But my suspicion is that he is just blowing hot air for Trump's edification.
My expectation is that Carr will do what he says he will do, and will bring Mr. Bozell in to speak to the commission. This is how the house oversight committee worked in congress. They brought in all the far right crackpots and gave them a chance to present their case. Bozell's case is based on an assumption that Soros will use the Audacy stations to promote his ideology.
The problem with Bozell's thesis is it's not against the law. The foundation for religious broadcasters is they use the public airwaves to promote their ideology. So attacking Soros is also attacking EMF, Salem, and other religious owners who use their stations to promote singular ideologies. That's the door they open. How far are they willing to go? We'll find out. We'll also learn how committed Audacy is to this source of funding.
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