Soros-led takeover of Audacy gets FCC approval despite opposition
Audacy can emerge from bankruptcy — and expects to do so within days — after gaining FCC approval Monday. The Federal Communications Commission on Monday approved the transfer of Audacy's business licenses to a group of creditors that includes a firm led by billionaire George Soros.
Audacy will head to bankruptcy court after the FCC agreed to conduct a foreign-ownership review with a new, post-bankruptcy ...
Audacy will continue to focus on sports radio and podcasts, buoyed by assets acquired in a merger with CBS Radio in 2017.
The decision has drawn criticism from Republicans, who say the FCC broke with established procedure to push the deal through.
The FCC has approved a reorganized Audacy on a 3-2 vote, enabling the company to emerge from Chapter 11 bankruptcy.
Politically progressive financier Soros would become largest shareholder in Audacy, owner of six St. Louis stations, which ...
Republican FCC Commissioner Brendan Carr voiced concerns about a decision to fast-track the sale of hundreds of radio ...
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