Soros Fund Management to Become Largest Shareholder of Radio Giant Audacy

As Audacy emerges from bankruptcy, George Soros' investment firm acquires significant debt, sparking debate over potential influence.

Soros Fund Management, led by billionaire George Soros, is set to become the largest shareholder of Audacy, the second-largest radio broadcaster in the U.S., as it emerges from bankruptcy.
Audacy, which owns over 225 radio stations and has a significant presence in podcasting, filed for Chapter 11 bankruptcy due to a $1.9 billion debt burden.
The investment by Soros Fund Management is viewed as a significant vote of confidence in Audacy's future in the radio and audio business.
Speculation and concern have arisen over Soros' potential influence on Audacy's programming ahead of the 2024 presidential election, though it remains unclear if any changes will occur.
Audacy's restructuring plan aims to reduce its total debt to $350 million and is scheduled for court review on February 20.