Media content start-up Latino Media Network (LMN) raised $80 million to launch and secure a $60 million cash deal with TelevisaUnivision to purchase 18 radio stations in the top Latino markets.

Forbes stated that LMN’s debt financing came from Lakestar Finance LLC, an investment entity affiliated with Soros Fund Management LLC.

The recent wave of Hispanic voters shifting their support to Republican candidates has leftist activists concerned about the future of elections. While the FCC still needs to approve the purchase of the stations – this process may take a year – Democratic politicians are already celebrating the win.

In a tweet last month, Rep. Darren Soto (D-Fla.) called the purchase of the stations a “MAJOR victory against right wing Spanish radio disinformation efforts this week.”