Republican lawmakers are intensifying their investigation into billionaire George Soros’ acquisition of hundreds of U.S. radio stations, arguing that this move could significantly impact media ownership and national security.

Soros, known for his substantial contributions to Democratic and liberal causes, has come under scrutiny following revelations about his involvement in purchasing these stations just before the upcoming presidential election.

The controversy stems from the bankruptcy of Audacy Inc., the second-largest radio company in the United States. Earlier this year, Audacy filed for bankruptcy, allowing a Soros-backed fund to acquire a substantial portion of the company’s debt. This deal ultimately granted the fund control over more than 200 radio stations.

Republicans are particularly outraged by the Federal Communications Commission’s (FCC) decision to expedite the purchase, which included waiving regulations that typically limit foreign ownership of media outlets.

House Energy and Commerce Committee Chair Cathy McMorris Rodgers expressed her concerns in a public statement on Monday. She criticized the FCC’s decision to grant a waiver permitting “25% of the company to be indirectly foreign-owned.”

Normally, such a waiver would necessitate a thorough FCC review, as it triggers regulations outlined in Section 310(b) of the Communications Act of 1934. However, the FCC approved the deal on September 30, bypassing the usual review process.

In response, Republican members of Congress have sent a letter to FCC Chairwoman Jessica Rosenworcel requesting clarification on the commission’s approval process. They have asked for a briefing and additional information by October 18 to understand why the commission diverged from its standard protocols.

The lawmakers are particularly interested in the circumstances under which the FCC has previously waived the foreign ownership rule and the criteria used to assess whether such waivers serve the public interest.

The letter raised several critical concerns, questioning the FCC’s approach to assessing foreign ownership of media companies and the thoroughness of its investigations into holding companies and institutional shareholders. It also sought clarification on why the FCC processed the Audacy application at the commission level rather than delegating it to bureau staff.

Additionally, the letter requested information regarding the typical duration that FCC and executive branch personnel spend on such investigations.

Lawmakers emphasized the need for transparency in the FCC’s decision-making process, particularly regarding media ownership rules aimed at safeguarding U.S. interests. “Licensees and investors need certainty that the FCC will follow its rules and procedures when approving transactions so that the broadcast industry can have the resources it needs to continue serving the public,” Rodgers stated.

The letter also emphasized the importance of consistently applying FCC regulations.