Cotton Letter To Jessica Rosenworcel

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COMMITTEES

TOM COTTON
ARMED SERVICES
ARKANSAS
JOINT ECONOMIC COMMITTEE

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326 RUSSELL SENATE OFFICE BUILDING JUDICIARY
WASHINGTON, DC 20510 SELECT COMMITTEE ON INTELLIGENCE
PHONE: (202) 224--2353

October I 0, 2024

Jessica Rosenworcel
Chairwoman
Federal Communications Commission
45 L Street NE
Washington, DC 20554

Dear Chairwoman Rosenworcel,

I write regarding the Federal Communications Commission's (FCC) decision to expedite Soros
Fund Management's (SFM) purchase of more than two hundred radio stations just weeks before
a critical presidential election.

The FCC's approval process for large acquisitions of radio stations generally takes a year or
more to complete and is subject to a national-security review if foreign-company ownership
exceeds 25 percent. In this case, however, the FCC reportedly attempted to approve the SFM
transaction with only 48 hours· notice. Reports also indicate that no other commissioners aside
from you were invited to opine on the issue before staff handled it on the Commission's behalf.
Moreover, SFM requested to bypass the traditional national-security review, despite raising $400
million for the purchase with foreign investments.

This decision affects over 165 million monthly listeners on Audacy-a network that includes
conservative programming like Sean Hannity, Dana Loesch, Mark Levin, Glenn Beck, and Erick
Erickson. It would be naive to think the timing is coincidental, or that a Soros-funded network
would impartially manage conservative talk shows in the weeks before the election. The FCC's
rushed approval of SFM's purchase raises significant concerns about the FCC's process, its
political impartiality, and the risks to our national security.

I urge the FCC to use its traditional process outlined by Section 310 of the Communications Act.
Accordingly, please respond to the below questions by October 24, 2024.

1. Under existing FCC rules, foreign-company ownership of U.S. radio stations should not
exceed 25 percent. Did SFM request to bypass the national-security evaluation? If so, did
you approve it?
2. What other exceptions to the existing rule regarding foreign-ownership of U.S. radio
stations have occurred during your tenure as Chairwoman?
3. Who was invited to opine on SFM's purchase of Audacy?
4. What efforts were made to undergo a legitimate public-interest analysis?

ROGERS LITTLE ROCK EL DORADO


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