What's new: Brooklyn-based Vice Media, which is headed toward bankruptcy, will be saved by a group of investors, including billionaire George Soros, that will reportedly buy the company for around $400 million. Vice, a once highly influential news source for younger Americans that was valued at nearly $6 billion in 2017, has seen a decline in its influence.
Soros's media influence: Soros is no stranger to influencing the media landscape. In the past, National Public Radio (NPR) received nearly $2 million from Soros to hire up to 100 new reporters. Moreover, Soros has given at least $131 million to influence over 253 journalism and activist media groups, promoting far-left views on a variety of topics ranging from abortion to environmentalism to police brutality. Last year, he backed an initiative to buy 18 Spanish-speaking radio stations in South Florida, which sparked opposition from the Cuban-American community.
Influence of the justice system: Soros has also been involved in the political sphere, donating over $40 million to left-wing district attorney candidates through his network of political action organizations. These prosecutors often limit incarceration and prosecution in the name of "social justice," leading to a rise in preventable violent crime in liberal cities. New York City D.A. Alvin Bragg, funded by Soros, has been in the spotlight for prioritizing the prosecution of Donald Trump and likely self-defense cases, like that of ex-Marine Daniel Penny, over violent criminals.
Is this a Biden 2024 play? Soros channeled a significant $300 million to Democratic campaigns and nonprofits during the 2022 midterms. Meanwhile, his son, Alexander, has frequented the White House 14 times since 2021, indicating a close dialogue between the Biden administration and the Soros family. Soros might leverage Vice Media to further amplify his political sway ahead of 2024, especially with CNN shifting toward a more moderate stance for financial reasons.