Overview of the Meeting

According to multiple sources, Carr’s presentation to lawmakers will cover the regulatory procedures surrounding the purchase of over 200 radio stations previously owned by Audacy, a leading U.S. broadcaster. The stations were acquired as part of a broader financial restructuring involving Soros Fund Management, which invested over $400 million in company debt during Audacy’s Chapter 11 bankruptcy process.

The acquisition has raised questions about foreign investment thresholds and the FCC’s approach to ownership approval.

Regulatory Process Under Scrutiny

Under current U.S. law, foreign ownership in broadcast companies is generally capped at 25% unless specifically approved by the FCC. Carr has previously testified that the FCC appears to have deviated from its standard process in this case.

“There are long-standing procedures in place when it comes to evaluating foreign ownership