FCC Chair to Brief Lawmakers on Media Ownership and Regulatory Concerns
Federal Communications Commission (FCC) Chairman Brendan Carr is set to meet with members of the Republican Study Committee this week to discuss regulatory concerns involving a major investment in local radio stations. The closed-door session is expected to focus on media consolidation and the recent acquisition of a significant number of radio assets by a firm tied to investor George Soros.
Overview of the Meeting
According to multiple sources, Carr’s presentation to lawmakers will cover the regulatory procedures surrounding the purchase of over 200 radio stations previously owned by Audacy, a leading U.S. broadcaster. The stations were acquired as part of a broader financial restructuring involving Soros Fund Management, which invested over $400 million in company debt during Audacy’s Chapter 11 bankruptcy process.
The acquisition has raised questions about foreign investment thresholds and the FCC’s approach to ownership approval.
Regulatory Process Under Scrutiny
Under current U.S. law, foreign ownership in broadcast companies is generally capped at 25% unless specifically approved by the FCC. Carr has previously testified that the FCC appears to have deviated from its standard process in this case.
“There are long-standing procedures in place when it comes to evaluating foreign ownership in media,” Carr said during a House Oversight Committee hearing earlier this year. “This transaction appears to bypass or fast-track some of those established protocols.”
FCC critics are concerned that the regulatory body may be setting a precedent by modifying or expediting its review process without a thorough public assessment.
Media Ownership and Public Interest
Lawmakers and public advocates alike have voiced interest in how large-scale investments in media entities—regardless of political leaning—could impact public access to diverse viewpoints. The debate centers around the role of media consolidation and the responsibility of federal regulators to maintain transparency and fairness in media oversight.
While some are focused on the influence of high-profile investors, others emphasize the broader need for maintaining public trust in local journalism, especially during election seasons when information access plays a key role in democratic engagement.
