The Glenn Beck Program is one of the most popular and successful conservative talk shows in the nation. Its Program Director — Dom Theodore — has concerns about the future of radio and the media industry as a whole due to the power wielded by the wealthiest of investors.
Earlier this year, a fund created by billionaire George Soros — who is often criticized by conversation media figures for his political activism — became the largest shareholder in radio giant Audacy while it underwent pre-packaged Chapter 11 bankruptcy.
The reaction to the news was mixed, with some sounding the alarm bells while others advised to pump the proverbial brakes before rushing to conclusions about what the acquisition would mean the future of the company’s limited conservative talk radio brands.
While Beck’s program is carried by more iHeartMedia and Cumulus-owned stations, Dom Theodore told Semfaor that the media should play a role in handcuffing the wealthy elite, rather than being a megaphone.
“In a healthy republic, the media is a ‘check-and-balance’ against those in power. But over the last few years, we’ve seen media outlets parroting talking points constructed by those in power, and over-consolidation of the media leading to censorship on an unprecedented scale by the elite,” Theodore said. “This should concern every American.”
Theodore continued by noting that he hopes that “new ownership would maintain the integrity of those brands as not to do so would be a major business mistake.”
Soros Fund Management acquired $415 million of Audacy’s debt in February, accounting for 40%, making it the single largest shareholder in the company.
