Soros heavily invested in Audacy

Over the last two years, Soros Fund Management, the firm founded by the billionaire investor, George Soros, and now controlled by the Open Society Foundations, has become an increasingly key player in the oldest electronic mass media: radio.

In February, the company became the largest shareholder in Audacy, the bankrupt second-largest radio company in the U.S., with more than 230 U.S. stations and a podcast arm that includes Cadence13 and Pineapple Street Studios. In 2022, Soros invested an undisclosed amount in Crooked Media, the liberal podcast network behind the ultra-popular Pod Save America. And a Soros-backed firm played a crucial role in Univision’s $60 million sale in 2022 of 18 Hispanic radio stations to a new firm run by veterans of Democratic politics. The deal, which included conservative Cuban powerhouse broadcasters in Miami, drew opposition from Republican members of Congress. (Semafor)