FCC Chairman Rosenworcel answers congressional inquiry about Soros

FCC Chairwoman Jessica Rosenworcel has responded to the U.S. House of Representatives Committee on Oversight and Accountability's investigation into the commission's alleged “quick” approval of the ownership agreement with Audacy, which includes ties to billionaire George Soros.

Committee Chairman James Comer (R-KY) and Rep. Nick Langworthy (R-NY) sent a letter to FCC Chairwoman Jessica Rosenworcel in September requesting documents and communications about the FCC's handling of the case and asking: whether the accelerated decision was politically motivated.

On September 30, the FCC announced that in a 3-2 vote it had approved Laurel Tree Opportunities Corporation's acquisition of approximately 40% of Audacy's senior debt to exit Chapter 11 bankruptcy. Laurel Tree is managed by the Soros-funded Fund for Policy Reform.

In her response, FCC Chairwoman Jessica Rosenworcel explained the Commission's actions to facilitate the transfer of control and allocation of licenses and enable Audacy to emerge from bankruptcy.

Chairman Rosenworcel noted that the transfer of control process mirrors the FCC's handling of similar cases, including the bankruptcy proceedings of Cumulus Media, iHeartMedia and Alpha Media. She writes: “The agency's standard practice here and in these prior cases is intended to facilitate the rapid and orderly exit from bankruptcy of a company that is a licensee under the Communications Act.”

Rep. Comer claims that Soros, a “Democratic megadonor and financier of organizations that advocate for speech restrictions and censorship of conservatives online,” is trying to control the broadcasts of Audacy’s more than 220 radio stations. As part of the oversight committee's investigation, all documents related to Audacy and Soros Fund Management, as well as internal FCC communications with “George Soros,” were requested.

In her response, Chairwoman Rosenworcel attached documents and communications related to Audacy's radio station licenses, as well as information related to Soros Fund Management. Additional documents will be provided to the Committee on an ongoing basis.

The decision highlighted the growing partisan divide at the FCC. Commissioner Brendan Carr called the decision “unprecedented” and criticized Democratic commissioners for bypassing established procedures and failing to seek public or federal input on changing regulations.