The aim of the present study was to explore auditory cortical oscillation properties in developmental dyslexia. We recorded cortical activity in 17 dyslexic participants and 15 matched controls using simultaneous EEG and fMRI during passive viewing of an audiovisual movie. We compared the distribution of brain oscillations in the delta, theta and gamma ranges over left and right auditory cortices. In controls, our results are consistent with the hypothesis that there is a dominance of gamma oscillations in the left hemisphere and a dominance of delta-theta oscillations in the right hemisphere. In dyslexics, we did not find such an interaction, but similar oscillations in both hemispheres. Thus, our results confirm that the primary cortical disruption in dyslexia lies in a lack of hemispheric specialization for gamma oscillations, which might disrupt the representation of or the access to phonemic units.