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SupportSanity

(267 posts)
Tue Apr 9, 2024, 09:19 AM Apr 9

Soros fund is building an audio empire

George Soros thinks it’s good business, and perhaps good politics, to be in your ears.

Over the last two years, Soros Fund Management, the firm founded by the billionaire investor 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.

https://www.semafor.com/article/04/07/2024/soros-fund-is-building-an-audio-empire

As previously reported on DU:
https://www.democraticunderground.com/100218704001

20 replies = new reply since forum marked as read
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Fiendish Thingy

(15,764 posts)
1. Hmmm, perhaps that explains why PSA has increased content over the past year or so
Tue Apr 9, 2024, 09:38 AM
Apr 9

Unfortunately, they have become a lot more click-baity during the past year as well.

dlk

(11,661 posts)
2. This is excellent news!
Tue Apr 9, 2024, 09:40 AM
Apr 9

In rural areas, talk radio and radio, generally, is a right-wing, extremist cesspool. A change will do them good.

CrispyQ

(36,675 posts)
3. Didn't Soros' liberal son take over the business?
Tue Apr 9, 2024, 10:37 AM
Apr 9

Better late than never, I suppose, but too bad our side didn't do this decades ago to counter all the right-wing bullshit broadcast over the airwaves.

Arthur_Frain

(1,874 posts)
6. I did not find it interesting.
Tue Apr 9, 2024, 11:26 AM
Apr 9

Apparently I had a lot of company, because not enough people tuned in.

For some reason our side doesn’t do radio all that well. I don’t know if the message doesn’t translate well to the medium, but I can’t point to any liberal radio program with the success anywhere near any of the right wing talking heads.

It’s frustrating.

Biophilic

(3,800 posts)
9. Rational thought and conversation doesn't grab listeners.
Tue Apr 9, 2024, 11:56 AM
Apr 9

Hysteria and hate evokes emotions that drive people’s actions. Rational thought has never been able to compete. We are emotional animals. Sadly.

NJCher

(35,949 posts)
11. no, just no
Tue Apr 9, 2024, 12:04 PM
Apr 9

Brian Lehrer Show in NYC is very successful and is wholly logical.

It just has to be done right.

Qutzupalotl

(14,381 posts)
14. We had listeners, but not enough advertisers.
Tue Apr 9, 2024, 02:07 PM
Apr 9

Most small (and large) business owners lean Republican, so were more likely to advertise on Rush and his ilk than Air America.

mountain grammy

(26,721 posts)
10. Hooray for Crooked Media
Tue Apr 9, 2024, 12:02 PM
Apr 9

POD saving America one podcast at a time and for Vote Save America supporting Democrats everywhere. Support them if you can. Some very good programs.

StClone

(11,696 posts)
12. Somewhat pertinent Vanity Fair article
Tue Apr 9, 2024, 12:39 PM
Apr 9

What Ever Happened to Air America?

To make matters worse, the network was beset by a raft of off-air problems almost from its inception: a charity-loan scandal, contract disputes with affiliates and employees, continual changes in ownership and management, and a 2006 bankruptcy. As Air America's fifth birthday approaches, it seems fair to ask: is the concept of a liberal talk-radio network dead? And why didn't it take off as its supporters had hoped?Air America is in fact still soldiering on, and when I spoke to the three men who are now running it—chairman and lead investor Charlie Kireker, C.E.O. Bennett Zier, and head of programming Bill Hess—they all voiced their optimism about the company's future. But in retrospect the spirit of 2004 seems laughably bullish. The network's trouble began two weeks after its April Fool's Day launch...


https://www.vanityfair.com/news/2009/03/what-ever-happened-to-air-america

BComplex

(8,137 posts)
13. Well doesn't this just say it all? ....
Tue Apr 9, 2024, 01:25 PM
Apr 9
The deal, which included conservative Cuban powerhouse broadcasters in Miami, drew opposition from Republican members of Congress.


They don't want their well-programmed base to hear any of the truth coming out of the radio!

Jacson6

(392 posts)
18. Buying up old radio stations is not a very good investment
Tue Apr 9, 2024, 03:50 PM
Apr 9

Everyone is getting automobiles with the ability to listen to satellites and podcasts over the Internet. I can see investing in podcasts services, but AM/FM terrestrial radio is dying. YMMV. IMHO.

Elessar Zappa

(14,207 posts)
19. Soros is smart.
Tue Apr 9, 2024, 03:56 PM
Apr 9

I’m sure he knows what is or isn’t a good investment. There’s a reason he’s a billionaire.

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