What's Soros Up To with Radio Stations?

Episode Transcript

Speaker 1 (00:00):
So the FCC approves this controversial, to say the least,
deal that fast tracked. George Soros is the radical leftist bazillionaire.
He acquired radio stations that reach more than one hundred
and sixty five million people in this country. This is

(00:20):
the Odyssey Company. The New York Posts say this move
is blatantly politically according to insiders that they talked to.
You may have heard this guy on Glenn Beck last night.
This is Brendan Carr, one of two Republicans on the
Federal Communications Commission, and he and his Republican colleague were

(00:43):
outvoted three to two on this deal.

Speaker 2 (00:48):
Ben't outspoken on this particular issue. For the reasons that
you talked about. We have a very clear process of
the sec that we've set up, could take six months,
could take a year to go through to review the
foreign OWNERSHI if that issue here. But for reasons that
are not sort of playing to me, the FCC Commission,
for the very first time ever, has skipped that process

(01:10):
for the benefit of this Soros backed group. And I'll
sort of let people draw their own conclusions about it.
But again, it's it's an unprecedented decision for the Commission.

Speaker 3 (01:19):
Never happened before.

Speaker 2 (01:23):
That's right. We at the Commission level adopted one way
that you can buy radio stations if you have accessed
at foreign ownership, which they do in that one process
is this lengthy six to one year national security review,
and it's been skipped here. Now a lot of these
stations are probably just you know, classic rock or news,

(01:43):
but not all of them. There don't have to be
numbers that. Yeah, there's member stations that you're confer instance,
at least three stations that you're on that are part
of this deal. Same with Sean Hannity, same with being
the last, same with Mark Levin. So there's at least
some of these that are you know, conservative news and
talk outlets.

Speaker 1 (02:03):
Yeah. So the rule is supposed to be that the
acquisition of American radio stations cannot involve more than twenty
five percent foreign ownership until and unless the Commission has
gone through this pretty long review process to vet the
foreign owners and Sorrows asked them to bypass that rule,

(02:28):
he said, or delay the rule. Here's the deal. We
won't let them make any decisions for now, and then
we'll come back and we'll go through the process later. Now,
if you were not only born at night, but born
last night. You might buy that that this is just
coincidental happening right before an election, but we'll try to

(02:49):
keep an eye on it from our perch here, because
we get the industry trades and all that to see
those if those stations, the Kerry Conservative shows are suddenly
not caring, right, And he doesn't mind doing the buyout,
because what you do you have a contract carry a
show when there's a ninety day out. But that wouldn't
bother him. He'd pay the penalty and put either you know,

(03:13):
Sean Penn and Jane Fonda on or just eliminade Sean
Hannity and Glenn Beck and all of that. So that's
something to keep an eye on. This is blatantly political.
It looks that way too. Yeah, it looks that way, saddler,
and you wonder what the objective here is for the
Soros family. He's an avowed socialist. He has funded a
lot of defund the police episodes in this country. He

(03:36):
has supported das that are soft on crime, specifically in
Los Angeles and Saint Louis and other places.

Speaker 3 (03:43):
Don't be surprised if he gets involved in one here
But what I don't quite understand is, and they certainly
know better than I what their objective is, why not
just go on the Nasdaq and buy iHeart stock? If
you want to own a bunch of radio stations, because
we have eight hundred and fifty of them, and we
market dominate in every market that we're in, certainly in

(04:03):
the top seventy five, why doesn't he just go and
spend a dollar fifty five a share and buy iHeart
Because the entire net worth of this company is two
hundred and thirty five million. Not only that, but iHeart
is the parent company of Premier Radio Nowacly, which is
the syndicator not only a ton of conservative shows, but

(04:23):
a lot of other shows too. And he could Yeah,
I mean, I know, that's a good question. Yeah, that
is a good question. Because he spent four hundred and
thirty five million. He spent four hundred and thirty five
million to get twenty percent of Odyssey, which owns a
lot of big market stations. You might have heard of
some of them in bigger markets around the country. But
if the objective is I want to take control of

(04:45):
the radio business and control the conservative narrative on talk radio,
which may be his ultimate objective. It would have been
a lot easier for him to just buy up a
bunch of iheartstock, because we have big stations in Los Angeles, Denver, here,
across the Midwest, in the Southwest, in the southeast.

Speaker 1 (05:04):
iHeart is in every major city in this country, with
the exception of Kansas City and I think pits Pittsburgh
is the other one.

Speaker 3 (05:13):
We're in Pittsburgh, but we're not in Kansas City.

Speaker 1 (05:15):
There's one. There's one other one.

Speaker 3 (05:16):
I think Erie, Pennsylvania, something like that.

Speaker 1 (05:19):
There's one other Buffalo, maybe it's Buffalo anyway, So you
got to ask yourself, Okay, George, why do you care? Yeah,
why do you care about buying these radio stations? And
it's so urgent that this gets done before the election.
We'll keep an eye on it.