Business
Sen. John Kennedy slams FCC over hurried approval of Soros massive radio station takeover
From LifeSiteNews
U.S. Sen. John Kennedy took to the Senate floor Tuesday to renew questions about the Biden Federal Communications Commission’s approval of a deal for far-left activist financier George Soros to acquire more than 200 stations at once
Republican U.S. Sen. John Kennedy of Louisiana took to the Senate floor Tuesday to renew questions about the Biden Federal Communications Commission’s (FCC’s) approval of a deal for far-left activist financier George Soros to acquire more than 200 stations at once, declaring something “weird” expedited the review.
In February 2024, Soros purchased $400 million of debt for Audacy, the second largest radio station owner (behind iHeartMedia) in the nation. Soros invested in the company after it filed for bankruptcy the month before with nearly $2 billion in debts. The investment comes with a yield of 50 cents on the dollar after the company emerges from bankruptcy, pending approval by a bankruptcy court of the company’s restructuring plan. Audacy stations carry the top names in conservative punditry, including Sean Hannity, Dana Loesch, Ben Shapiro, Mark Levin, Glenn Beck, and Erick Erickson.
In September, FCC Commissioner Brendan Carr testified before the House Oversight Committee that “the FCC is not following its normal process for reviewing transactions that it has established over a number of years. It seems to me the FCC is poised, for the first time, to create an entirely new shortcut.”
The New York Post added at the time that Carr told them “the Democrats in FCC leadership cut a secret, backroom deal – one that kept the Republican FCC Commissioners and perhaps others completely in the dark – and then hustled it out the door on a Friday afternoon” in a 3-2 party-line vote. The FCC approved the deal in October, with congressional Republicans vowing to investigate.
Speaking on the Senate floor, Kennedy began by recalling former President Joe Biden’s Farewell Address warning that “an oligarchy is taking shape in America of extreme wealth, power, and influence that literally threatens our entire democracy, our basic rights and freedoms, and a fair shot for everyone to get ahead.”
Kennedy said he did not know which “oligarchs” Biden had in mind, but that Soros fit the description. He went on to detail how Soros took advantage of Audacy filing for Chapter 11 bankruptcy and became the majority shareholder, which triggered an FCC review process.
Approval of the deal, he said in his trademark style, “went through the FCC like green grass through a goose,” and Democrat commissioners “short-circuited” the normal review process.
“I’m not an FCC expert. I’m not a communications law expert,” Kennedy said. “But I’ve read, this has been widely reported and I’ve read about it in many reports. Normally on a deal of this size, when 220 radio stations are being transferred, their licenses, using airwaves that belong to the American people, and there’s a substantial percentage of foreign owners, it would take about a year to get through the FCC. FCC would do a complete investigation. Not this time! Noooo. This time was special.”
“Pass me the sick bucket,” Kennedy said after reviewing past commentary by Carr and others about the deal. “This isn’t right! But they did it. Now, this is America. You’re entitled to believe what you want. If it’s legal, you’re entitled to do what you want. And Mr. Soros is certainly entitled to his opinion. He is. I don’t agree with him, but he is certainly entitled to it in America. I’m not much into this cancel culture. And hopefully we’ve seen the end of it.”
“But when you’re acquiring radio licenses which can influence public opinion, and you’re doing it in part, not exclusively but in part, with foreign money, well, that’s why we have the FCC,” he went on. “They’re entitled to their opinion, but my people in Louisiana are entitled to know whose opinion they’re hearing on the radio. And this has not been reported once in Louisiana.”
“I am not saying it wasn’t done legally,” Kennedy concluded. “I am saying it looks funny. Not funny ha-ha. It looks weird the way this was done. It has the aroma of politics. And I hope the new FCC revisits this issue.”
Soros’ takeover of so many stations is alarming as the latest display of his willingness to use his vast wealth to influence American politics. A small sampling of the causes the billionaire has financed includes promoting legal abortion-on-demand worldwide under the guise of “reproductive health care;” supporting the election of district attorneys friendly to his politics in localities across the United States; pushing a “racial justice” agenda, including the narrative that America is systemically racist and promoting policies such as reparations for slavery; subsidizing “fact-checking” enterprises that attempt to discredit conservative media outlets under false pretenses, and funding Democrat political candidates.
In 2023, local news outlet Maine Public reported that the Soros-backed National Trust had gained control of Maine’s largest network of newspapers, acquiring five daily papers and 17 weekly publications. The National Trust received funding from Soros’ Open Society Foundation and left-wing Swiss billionaire Hansjörg Wyss for the purchase of the media network.
Carr, who has since been appointed FCC chairman by President Donald Trump, is expected to investigate the deal.
Business
The ESG Collapse: Al Gore, Intel, BlackRock, and the Failed Promise of “Sustainable” Investing
From StosselTV
For years, investment firms pressured companies to hire people of certain races and genders, and pushed “sustainability.” That has hurt returns.
Investments that claim to be “sustainable” have been underperforming. It’s because companies that embrace “ESG” woke investing end up prioritizing politics over innovation.
Intel, once a leader in the tech world, wasted millions on ESG goals. Now, it lags behind its competitors. Its stock is down more than 70%. “You have a company that’s absolutely failing!” Says Matt Cole, CEO of Strive investment managing.
Even BlackRock, which led the “ESG” push, now backs away from ESG investments. “What you’re seeing today,” says Cole, “is ESG funds shuttering at record speed.”
Our new video explains why.
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Business
GOP Lawmakers Urge Coast Guard To Defend US Ports Where ‘Chinese Military Company’ Operates
From the Daily Caller News Foundation
By Philip Lenczycki
Republican lawmakers urged the U.S. Coast Guard on Wednesday to take “decisive action” against a Chinese military company that has “expansive operations at major U.S. ports,” according to a letter exclusively obtained by the Daily Caller News Foundation.
The House Committee on Homeland Security and House Select Committee on the Chinese Communist Party sent a letter to U.S. Coast Guard Acting Commandant, Admiral Kevin E. Lunday requesting information and a classified briefing related to COSCO Shipping, a Chinese state-owned enterprise that the Department of Defense (DOD) recently added to its list of “Chinese Military Companies.” COSCO Shipping poses a “significant” national security threat to the U.S., ranging from “espionage, cyber intrusions, sabotage, and supply chain disruptions,” according to the letter.
“Permitting vessels and personnel affiliated with COSCO SHIPPING to operate within U.S. ports without adequate safeguards exposes the nation to unacceptable risks, particularly during times of increased geopolitical tension,” the letter states. “As the lead federal agency for maritime security, the U.S. Coast Guard (USCG) must take decisive action to mitigate these risks.”
The letter is signed by House Homeland Security chairman, Tennessee Rep. Mark Green, China Select Committee chairman, Michigan Rep. John Moolenaar, Florida Rep. Carlos Gimenez and South Dakota Rep. Dusty Johnson.
The People’s Republic of China (PRC) exploits “Chinese Military Companies” for intelligence and military purposes as part of its “Military-Civil Fusion Strategy,” the letter states.
Military-Civil Fusion “supports the modernization goals of the People’s Liberation Army by ensuring it can acquire advanced technologies and expertise developed by PRC companies, universities, and research programs that appear to be civilian entities,” according to the DOD.
Toward that end, China engages in “forced technology transfer, intelligence gathering, and outright theft,” and directs Chinese enterprises to “undertake classified military R&D and weapons production,” according to the State Department.
In addition to being a state-owned enterprise, the committee’s letter warns that COSCO Shipping vessels “frequently have Chinese Communist Party (CCP) political commissars embedded amongst their crews.”
COSCO Shipping’s website includes a section for “Party building” and states that its CEO, Wan Min, also serves as the Party secretary of the firm’s internal CCP branch. A “Party branch” is the smallest “grass-roots” CCP organization, and one must be established within any Chinese institutions containing three or more Party members, according to the Chinese government.
The committee’s letter also urges the USCG to intensify its protocols for “screening vessels, owners, and crew members associated with COSCO Shipping and other entities linked to the PLA or the PRC’s security and intelligence services.”
COSCO Shipping’s previous CEO, Xu Lirong, simultaneously served as deputy director of the China International Culture Exchange Center (CICEC), which former analyst at the Australian Strategic Policy Institute Alex Joske identified as a front for China’s premier civilian intelligence service, the Ministry of State Security, the DCNF previously reported.
“It is essential that biographical information for all foreign mariners, particularly those from the PRC and other high-risk countries, undergo comprehensive scrutiny utilizing the complete range of classified and unclassified data resources accessible to the U.S. government,” the committee’s letter states.
A USCG spokesperson told the DCNF it “routinely evaluates vessels before arrival within U.S. waters” and examines vessels “for safety and security” after arrival as well.
The committee’s letter also requests for USCG to provide answers to nine questions by Feb. 3.
More than half of the questions relate to the protocols, process, or datasets USGC uses to vet foreign vessels and mariners.
For example, one question asks: “What classified and unclassified datasets are used by the USCG to vet foreign mariners, vessel owners, and operators?”
Another question asks: “Is the USGC’s vetting and screening process for foreign vessels and mariners fully automated, partially automated, or primarily manual?”
Other questions concern USGC’s possible coordination with federal agencies, like the FBI, and inquire into whether or not USGC has conducted a risk assessment specific to COSCO Shipping.
“The USCG must prioritize the integration of both classified and unclassified intelligence, strengthen interagency coordination and collaboration, and leverage advanced technological solutions to enhance its ability to detect and deter emerging threats,” the committee’s letter states.
COSCO Shipping did not respond to multiple requests for comment.
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