放 is built from the 方 and 夂 (going / winter (top)) components.
It reads ホウ like 方, as do 防, 訪, 房, and 芳 — learn 方 once and the family's reading comes with it.
A common word using 放 is 放送 (ほうそうする), meaning “broadcasting”.
Don't confuse it with 政, 改, 攻, and 教.