The New York Post, citing sources and court documents, reported that the left-leaning billionaire George Soros was preparing to buy a large stake in Audacy. Audacy is America’s second largest radio company, with more than 220 nationwide stations.

According to the report Soros Fund Management bought $400 million in debt from Audacy. The Post reported on the bankruptcy filings. The Post reported that the radio giant filed bankruptcy protection in January, with close to $ 2 billion in debt.

The Post reported an “insider” who was reportedly a Republican. This person suggested that Soros might be buying the large stake in order to have a bigger influence when the November elections are near.

What was the amount paid by the financier of Hungarian descent? According to sources who spoke with the Post, he had “scooped the debt” over the past few weeks and paid roughly “50 cents per dollar” out of a hedge-fund called HG Vora. The Post reported that Audacy made the investment after hearing about the acquisition.

The hearing in Houston for the federal court regarding debt restructuring will take place on February 20.