George Soros snaps up 220 radio stations in MASSIVE bailout just before 2024 elections

George Soros is making his move to potentially have a massive leftist bullhorn during the 2024 presidential election by buying 220 radio stations.

“Soros Fund Management has bought up more than $400 million of the radio and podcast company’s highest-ranking debt, bankruptcy court filings show,” the Daily Mail reported.

The buy would make Soros’ investment firm the biggest shareholder in Audacy, formerly Radio.com, as it comes out of bankruptcy. It is the second-largest radio broadcaster behind iHeartMedia in America.

The leftist billionaire has already bought up 18 Spanish-language radio stations, including the iconic conservative talk station Radio Mambi, according to The Daily Signal.

“The debt buyout has alarmed conservatives, who have railed against Soros’ multimillion-dollar payouts to progressive political causes aligned with the Democratic Party,” the Daily Mail noted.

Audacy said in a statement that the cash injection was a “significant vote of confidence in our company and the future of the radio and audio business.”

This same investment fund was part of a group that forked out $350 million to bail out Vice Media last summer. It also bought a minority stake in podcast company Crooked Media which former Obama administration officials founded.

Audacy was drowning in $1.9 billion in long-term debt and filed for Chapter 11 bankruptcy in January. Soros saw a huge opportunity to control the political airways in America and sprang into action.

When Audacy filed for bankruptcy, it reported $2.67 billion in debt that included lease obligations and other commitments.

According to a news release, the company’s plan will allow it to reduce its total debt from $1.9 billion to $350 million.

The company’s bankruptcy plan wipes out existing shareholders. High-ranking creditors would receive stock in the restructured company as compensation.

Audacy’s plan will require approval from the Houston bankruptcy court and will be heard in court by United States Judge Christopher Lopez on February 20.

David J. Field, the chairman, president, and CEO of Audacy, said in a statement, “Over the past few years, we have strategically transformed Audacy into a leading, scaled multi-platform audio content and entertainment company through our acquisition of CBS Radio and by building leading complementary positions in podcasting, audio networks, live events, digital marketing solutions, and our direct-to-consumer streaming platform.”

“While our transformation has enhanced our competitive position, the perfect storm of sustained macroeconomic challenges over the past four years facing the traditional advertising market has led to a sharp reduction of several billion dollars in cumulative radio ad spending,” he contended.

“These market factors have severely impacted our financial condition and necessitated our balance sheet restructuring. With our scaled leadership position, our uniquely differentiated premium audio content, and a robust capital structure, we believe Audacy will emerge well positioned to continue its innovation and growth in the dynamic audio business,” Field claimed.

The New York Post reported that Soros’ stake in the company is equal to approximately 40% of its senior debt. His stake in the company was acquired for 50 cents on the dollar.

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