Audacy Inc., the bankrupt radio broadcaster, won regulatory approval for the transfer of its licenses to a nonprofit funded by billionaire George Soros, paving the way for the company to emerge from Chapter 11.

By all appearances, the FCC majority isn’t just expediting, but is bypassing an established process to do a favor for George Soros,' one congressman says.

The US House Committee on Oversight and Accountability is opening an investigation on the FCC over George Soros' potential stake in Audacy.

The FCC has approved the plan of Audacy, the second-largest radio company in the United States by revenue, to exit Chapter 11 bankruptcy reorganization.

The Federal Communications Commission said Monday it had voted to approve the transfer of radio station licenses to allow Audacy, one of the largest radio and podcast companies in the United States, to emerge from bankruptcy.

The Federal Communications Commission has granted approval for a reorganized Audacy, enabling company to emerge from Chapter 11 bankruptcy.

The Federal Communications Commission expedited a decision to allow Democratic megadonor George Soros to obtain a major stake in more than 200 radio stations — a move the House Oversight Committee is investigating.

The decision has drawn criticism from Republicans, who say the FCC broke with established procedure to push the deal through.