George Soros Acquires Significant Stake in Audacy, Poised for Control

The acquisition of a substantial debt portion in Audacy by George Soros' fund could grant him significant influence over the second-largest radio broadcaster in the U.S..

• George Soros' Soros Fund Management has purchased $400 million of debt in Audacy, potentially giving him control over the company.
• Audacy, the nation's second-largest radio company, owns more than 220 stations across the U.S.
• The acquisition has raised concerns among some observers about potential influence on public opinion ahead of the 2024 presidential election.
• Under Audacy's Chapter 11 bankruptcy plan, existing shareholders are expected to be wiped out, with high-ranking creditors like Soros likely to be repaid with stock.
• A hearing to approve the Audacy restructuring plan is scheduled for February 20 in a Houston bankruptcy court.

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