CANDACE HATHAWAY
FEBRUARY 15, 2024
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Far-left billionaire George Soros is set to seize control of Audacy’s 220 United States radio stations ahead of the 2024 presidential election, the New York Post reported.
Soros Fund Management, the hedge fund manager’s investment management company, has purchased $400 million of the radio platform’s debt.
Audacy, formerly Radio.com, is the second-largest radio broadcaster behind iHeartMedia. Last month, the company filed for Chapter 11 bankruptcy and announced that it had reached a prepackaged restructuring support agreement with a supermajority of its debtholders. According to an Audacy news release, the plan will allow it to reduce its total debt from $1.9 billion to $350 million.
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