Media Research Center noted in its April petition to deny the "special Soros shortcut" that "the Soros group expressly states in their FCC filing that they have determined that the aggregate level of foreign ownership in the company when it emerges from bankruptcy will exceed the 25 percent limit specified in Section 310(b)(4) of the Communications Act due to the various entities that it expects to hold voting or equity interests."
Audacy requested that the five-member FCC, which has a Democratic majority, take the unprecedented step of not only waiving the foreign ownership restriction in order to allow the purchase to move forward but of putting off a national security review of the stations' foreign-interest holders.
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