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Trump Finds Backing for His Own Media Venture

Added 10-20-21 11:40:03pm EST - “A merger could give the former president access to nearly $300 million in cash ?" and perhaps a new platform.” - Nytimes.com

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Posted By TheNewsCommenter: From Nytimes.com: “Stymied Before, Trump Finds Backing for His Own Media Venture”. Below is an excerpt from the article.

A merger could give the former president access to nearly $300 million in cash — and perhaps a new platform.

Former President Donald J. Trump said on Wednesday that he had lined up the investment money to create his own publicly traded media company, an attempt to reinsert himself in the public conversation online from which he has largely been absent since Twitter and Facebook banned him after the Jan. 6 insurrection.

If finalized, the deal could give the new Trump company access to nearly $300 million in spending money.

In a statement announcing the new venture, Mr. Trump and his investors said that the new company would be called Trump Media & Technology Group and that they would create a new social network called Truth Social. Its purpose, according to the statement, is “to create a rival to the liberal media consortium and fight back against the ‘Big Tech’ companies of Silicon Valley.”

Since he left office and became the only American president to be impeached twice, Mr. Trump has had an active presence in conservative media. But he lacks the ability he once had to sway news cycles and dominate the national political debate. He filed a lawsuit this month asking Twitter to reinstate his account.

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