FCC Chairman to Brief Lawmakers on Controversial Radio Station Acquisition and Media Consolidation
Federal Communications Commission (FCC) Chairman Brendan Carr is set to update lawmakers this week on the agency’s ongoing review of a high-profile acquisition involving more than 200 local radio stations. The transaction—led by an investment firm reportedly linked to financier George Soros—has sparked a wave of debate surrounding media consolidation, foreign investment in U.S. communications, and the FCC’s regulatory process.
According to Fox News, Carr will address members of the Republican Study Committee during their annual closed-door luncheon. His briefing will center on the broader implications of the 2023 acquisition of a significant stake in Audacy, one of the country’s largest radio networks.
At issue is whether the FCC followed its standard guidelines, particularly around the 25% foreign ownership cap that typically governs U.S. media transactions. Carr has previously voiced concern that the Audacy deal may be progressing through an alternative review channel—one that, he argues, falls outside the agency’s established norms.
“We’ve long had a clear process for handling transactions with more than 25% foreign ownership,” Carr told the House Oversight Committee. “This one appears to be navigating a different, less transparent path.”
Those concerns have prompted lawmakers to push for more oversight. In a letter last year, members of the House Oversight Committee questioned whether the FCC was sidestepping its traditional review framework, citing worries about media influence, foreign entanglements, and the future of local radio.
Carr’s upcoming briefing is also expected to touch on broader issues, including media diversity, ownership concentration, and the importance of preserving independent, community-focused journalism. Bipartisan voices in Congress have grown increasingly wary of corporate consolidation in media, particularly as local outlets struggle to survive amid shifting technologies and market pressures.
Representative Chip Roy (R-TX) is among those calling for a more rigorous approach to vetting large-scale media deals. “We need transparency and strong regulatory compliance to ensure the integrity of our media landscape,” he stated.
While the FCC has not yet issued a final ruling on the Audacy deal or proposed formal changes to its approval process, Carr’s conversations with lawmakers could shape the agency’s approach going forward. As the boundaries of media ownership continue to shift, the FCC’s role in safeguarding public interest, diversity of viewpoints, and local news access remains under the spotlight.