Title: George Soros Set to Gain Control of Audacy Radio Stations Through $400M Bailout

Billionaire philanthropist George Soros is on track to become the major shareholder of radio company Audacy and its more than 220 stations nationwide, sparking concerns about his influence during the 2024 election. According to bankruptcy court filings, Soros Fund Management has purchased over $400 million of Audacy's highest-ranking debt, positioning his investment firm as the largest shareholder following the company's emergence from bankruptcy.

Soros has faced criticism from conservatives for his significant financial contributions to progressive political causes aligned with the Democratic Party. The acquisition of Audacy's debt has further alarmed conservatives, who fear that Soros may attempt to sway voters through the radio stations during upcoming elections.

Audacy, formerly known as CBS Radio, filed for bankruptcy in January, burdened by approximately $1.9 billion of long-term debt. The company reported total debt of $2.67 billion at the time of the filing, which included lease obligations and other commitments.

In a statement, Audacy referred to Soros' investment as a "significant vote of confidence" in the future of the radio and audio business. However, Soros Fund Management and the creditors' legal representatives have not responded to requests for comment.

This is not Soros' first foray into the media landscape. The Hungarian-born financier previously made headlines for financially supporting liberal District Attorneys' election campaigns, earning him the status of a conservative bogeyman.

Conservatives argue that Soros' control over Audacy's radio stations would allow him to exert influence over the airwaves during the 2024 election. The approval of the plan to transfer control to Soros requires confirmation by the Houston bankruptcy court, which is scheduled to hear the case on February 20.

Soros Fund Management was also part of a group that acquired bankrupt media company Vice Media for $350 million last summer. Additionally, the firm holds a minority stake in Crooked Media, a podcasting company co-founded by former Obama administration officials.

As Audacy's bankruptcy plan unfolds, existing shareholders are expected to be eliminated, and high-ranking creditors will be repaid with stock in the restructured company. The outcome of the Houston bankruptcy court's decision will determine if George Soros takes the reins of Audacy's extensive radio network.