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Forbes
a day ago
- Business
- Forbes
Trump Media Takes Truth+ Streaming Global After President Slashes Voice Of America
President Donald Trump's media company is testing a global rollout of its streaming platform, raising conflict-of-interest questions, just months after he ordered sharp cuts to Voice of America, the U.S.-funded broadcaster that's delivered international news for decades. President Donald Trump speaks in front of a map of his proposed "Golden Dome" missile defense system ... More in the White House on May 20. (Photo by) Getty Images Trump Media & Technology Group (NASDAQ: DJT), the parent company of Truth Social—of which Trump owns 114.8 million shares—announced Monday it's beta testing an international rollout of its streaming platform, Truth+, aiming to expand beyond North America. Trump Media CEO and chairperson Devin Nunes said in a statement accompanying the news: 'International viewers who want to get the other side of the story will soon have an easy opportunity to do so.' The global push follows Trump's February executive order slashing Voice of America's parent company's work to the ' by law,' with the White House labeling the outlet 'the voice of radical America.' Voice of America is the largest U.S. international broadcaster, reaching 354 million people a week in 50 languages, and is funded by Congress 'to provide comprehensive coverage of the news and tell audiences the truth,' according to its website. Trump Media did not share a date for when it plans to officially launch Truth+ globally. Spokespeople for Trump Media and the Trump Organization did not respond to requests for comment, but White House deputy spokesperson Anna Kelly told Forbes in a statement the president's assets are in a trust managed by his children and 'there are no conflicts of interest.' There's no evidence tying Trump Media's global push to his administration's move to slash Voice of America. While Trump Media's filings with the Securities and Exchange Commission and press releases don't appear to explicitly mention plans to take Truth+ global, its 2024 annual report does warn that foreign governments could restrict the streaming platform— suggesting overseas ambitions were on the radar. Chief Critic Noah Bookbinder, president of government ethics watchdog Citizens for Responsibility and Ethics in Washington and a former federal corruption prosecutor, told Forbes Trump's expansion raises perennial concerns about whether his decisions serve the country or his own bottom line. While most ethics laws don't apply to the president, Bookbinder said, the moves to shrink Voice of America and grow Trump Media abroad 'highlight the inherent conflicts posed by his ongoing business interests, which are ever expanding.' Trump can still earn income from his businesses while in office through the Donald J. Trump Revocable Trust, the same structure he used during his first term. He is its sole donor and beneficiary, while Donald Trump Jr. serves as the trustee. The Trump Organization confirmed in an April regulatory filing in the United Kingdom that Trump retains control over his businesses. Truth+ programming includes rightwing political content from outlets like Real America's Voice and One America's News Network, movies including flattering documentaries on Elon Musk and Clarence Thomas and Christian shows. Its international expansion will make Newsmax available globally for the first time. Meanwhile, Trump Media is in the midst of restructuring its finances. It raised $2.3 billion from institutional investors in May to buy bitcoin, registered a crypto ETF with the SEC and announced plans last week to buy back up to $400 million in shares. In 2024, Trump Media reported just $3.6 million in sales and a net loss of nearly $401 million, according to its annual report. News Peg The Trump administration announced it was laying off 639 employees at Voice of America's parent organization last month. On Friday, however, the administration reversed course, rescinding the notices after employees flagged errors in the terms, The New York Times reported. Big Number $2 billion. That's the value of Trump's 114.8 million shares in Trump Media, as of Tuesday's close. Surprising Fact Trump Media warned in May of possible 'material misstatements' in its financial filings, citing weak internal controls and a lack of SEC reporting expertise—though a company spokesperson told Forbes the filing was 'a routine disclosure that TMTG has repeatedly made in the past, and is typical for former shell companies, that does not in any way indicate an intention to restate any of TMTG's financial reporting.' Tangent Eric Swider, one of seven board members at Trump Media and a leader in the deal to take Truth Social public, has sold around 90% shares since November, netting roughly $4.4 million before taxes, SEC filings show. Swider did not respond to Forbes' inquiry and does not appear to have commented publicly on the sales. He is in the process of launching another blank-check company with Nunes. Forbes estimates Donald Trump's net worth at $5.2 billion. Editor's Note In November 2023, Trump Media sued 20 media outlets, including Forbes, for reporting that included calculations of its financial results while still a private company. The defendants have moved to dismiss the claims but the case is currently ongoing. Further Viewing The 3 Easy New Ways Anyone Can Funnel Money Directly To Donald Trump's Businesses (Forbes) CEO Devin Nunes Made $47 Million While Truth Social Parent Company Reported $401 Million In Losses In 2024 (Forbes) Trump Media Shares Rise After Planning Fintech Brand—Trump's Net Worth Spikes Over $200 Million (Forbes) Truth Social Hosted Party At Trump's Mar-A-Lago (Forbes) Trump-Linked SPAC Spent $10.8 Million On Legal Fees Amid Regulatory Probes (Forbes) When It Comes To Truth Social, Republicans In Congress Aren't Buying What Trump's Selling (Forbes)
Globe and Mail
3 days ago
- Business
- Globe and Mail
Trump Media Begins Beta Testing Global TV Streaming
SARASOTA, Fla., June 30, 2025 (GLOBE NEWSWIRE) -- Trump Media and Technology Group Corp. (Nasdaq, NYSE Texas: DJT) ("Trump Media" or the "Company"), operator of the social media platform Truth Social, the streaming platform Truth+, and the FinTech brand announced today that the Company has begun beta testing the launch of Truth+ globally. The global launch will make most Truth+ TV streaming channels and video on demand content available on apps worldwide, joining the U.S., Canada, and Mexico, where Truth+ is now available via iOS, Android, and connected TV apps and on the web. For the first time, the launch will also make the flagship Newsmax channel available in international markets without the need for a VPN. Trump Media's CEO and Chairman Devin Nunes said, 'We're excited to deepen Trump Media's international footprint and bring a fresh perspective to viewers in Europe, Asia, and beyond. We're also thrilled to bring Newsmax to a global audience, who will see a dramatically different style and substance in news delivery. International viewers who want to get the other side of the story will soon have an easy opportunity to do so.' Newsmax CEO and President Chris Ruddy said, 'We're excited to partner with Trump Media as part of our growing distribution outside of the U.S. Being on Truth+ will introduce Newsmax to a new audience and will create a significant boost in viewership around the world.' The flagship Newsmax channel will be added to the web version of Truth+ already available internationally. As they are approved, Truth+ apps for iOS, Android, and connected TVs will become available in the relevant app stores around the world. About Trump Media The mission of Trump Media is to end Big Tech's assault on free speech by opening up the Internet and giving people their voices back. Trump Media operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations, as well as Truth+, a TV streaming platform focusing on family-friendly live TV channels and on-demand content. Trump Media is also launching a financial services and FinTech brand incorporating America First investment vehicles. Trump Media's Cautionary Statement About Forward-Looking Statements This press release includes forward-looking statements regarding, among other things, the plans, strategies, and prospects, both business and financial, of Trump Media. We have based these forward-looking statements on our current expectations and projections about future events, including expected potential merger & acquisition activity, the rollout of products and features, the timing and price of any share or convertible note repurchases, our Bitcoin treasury strategy, the future plans, timing and potential success of the streaming services and the launch and success of our financial services and FinTech platform. Although we believe that our plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by, or include the words "believes," "estimates," "expects," "projects," "forecasts," "may," "will," "should," "seeks," "plans," "scheduled," "anticipates," "soon," "goal," "intends," or similar expressions. Forward-looking statements are not guarantees of future performance, and involve risks, uncertainties and assumptions that may cause our actual results to differ materially from the expectations that we describe in our forward-looking statements. There may be events in the future that we are not accurately able to predict, or over which we have no control. About Newsmax Newsmax Inc. is listed on the NYSE (NMAX) and operates, through Newsmax Broadcasting LLC, one of the nation's leading news outlets, the Newsmax channel. The fourth highest-rated network is carried on all major cable stations, as well as a major satellite system. Newsmax's media properties reach more than 40 million Americans regularly through Newsmax TV, the Newsmax App, its popular website and publications such as Newsmax Magazine. Through its social media accounts, Newsmax reaches 20 million combined followers. Reuters Institute says Newsmax is one of the top U.S. news brands and Forbes has called Newsmax "a news powerhouse.' Newsmax's Cautionary Statement About Forward-Looking Statements This communication contains forward-looking statements. From time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-looking statements can be identified by those that are not historical in nature. The forward-looking statements discussed in this communication and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. Newsmax does not guarantee future results, performance or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy or completeness of any of these forward-looking statements. Forward-looking statements should not be relied upon as predictions of future events. We are under no duty to update any of these forward-looking statements after the date of this communication to conform our prior statements to actual results or revised expectations, and we do not intend to do so. Factors that may cause actual results to differ materially from current expectations include various factors, including but not limited to the factors set forth in the sections entitled "Risk Factors" in Newsmax's Annual Report on Form 10-K for the twelve months ended December 31, 2024, Newsmax's Quarterly Report on Form 10-Q for the three months ended March 31, 2025, and other filings Newsmax makes with the Securities and Exchange Commission. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. Undue reliance should not be placed on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. For more information, please visit Investor Relations | Newsmax Inc. Investor Relations Contact Media Contact
Yahoo
6 days ago
- Business
- Yahoo
Trump Media Just Announced a $400 Million Buyback. Should You Buy DJT Stock Here?
Trump Media and Technology Group (DJT) surged in early trading on Monday, June 23 following the announcement of a $400 million share repurchase authorization, though shares closed roughly flat. The operator of Truth Social, Truth+, and said the buyback demonstrates board confidence in the company's strategic direction while leveraging its $3 billion balance sheet. CEO Devin Nunes emphasized the program supports shareholder returns as management explores additional strategic opportunities. The repurchases, funded separately from Trump Media's Bitcoin (BTCUSD) treasury strategy, will include stocks and warrants through open market transactions with retired shares. Tesla's Robotaxis Reportedly Sped and Veered Into the Wrong Lanes. Does This Crush the Bull Case for TSLA Stock? Dear Micron Stock Fans, Mark Your Calendars for June 25 Is United Health Stock a Buy, Hold or Sell for July 2025? Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! Valued at a market cap of $4 billion, DJT stock is down 80% from all-time highs and has pulled back by almost 50% in 2025. Let's see if you should own DJT stock right now. Earlier this month, Trump Media announced a massive $2.5 billion capital raise to build one of the largest corporate Bitcoin reserves. The Truth Social operator plans to raise funds through $1.5 billion in common stock and $1 billion in convertible notes, with the proceeds primarily directed toward accumulating Bitcoin as a core treasury asset. Nunes positioned the strategy as both a value driver and political statement, calling Bitcoin 'the apex instrument of financial freedom' and a hedge against 'financial discrimination.' The company will partner with Anchorage Digital and for custodial services, signaling institutional-grade security for its cryptocurrency holdings. However, Trump Media's fundamental business metrics raise questions about this strategic pivot. For instance, in Q1, it reported revenue of $821,000, while operating expenses exceeded $40 million. Similar to other social media platforms, Truth Social relies heavily on advertising revenue, generating 93% of these sales from a single customer. Unlike MicroStrategy (MSTR), which had an established enterprise software business before pivoting to Bitcoin, Trump Media lacks profitable operations to support its treasury strategy. Its emerging products Truth+ and have yet to generate meaningful revenue, while management has acknowledged material weaknesses in financial reporting controls. Trump Media's economic moat centers on its positioning within conservative social media and the powerful Trump brand. This allows the platform to capture a niche audience that mainstream platforms may avoid due to content moderation concerns. However, a heavy dependence on President Donald Trump's personal brand creates vulnerability to political controversies, while competition from established social media giants requires substantial investments in technology and marketing. Moreover, ongoing financial instability with widening operating losses, and cybersecurity threats could compromise user data and platform integrity. This makes DJT stock a speculative investment dependent on political sentiment and crypto market conditions. While Bitcoin's recent strength near all-time highs could provide short-term momentum, Trump Media's extreme valuation relative to fundamentals makes this a high-risk buy. On the date of publication, Aditya Raghunath did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Forbes
25-06-2025
- Business
- Forbes
Trump Media Board Member Who Led SPAC Deal Sells 90% Of His Shares
Eric Swider, one of seven board members at Trump Media & Technology Group (NASDAQ: DJT) and a leader in the deal to take Truth Social public, has sold around 90% of his company stock—netting around $4.4 million before taxes—since November, according to filings with the Securities and Exchange Commission. Truth Social is seen on a mobile device with an image of President Donald Trump in the background in ... More Warsaw, Poland in February 2022. (Photo by STR/NurPhoto via Getty Images) NurPhoto via Getty Images Swider became CEO of the blank-check firm Digital World Acquisition Corp.—the SPAC that merged with Truth Social parent company Trump Media—in March 2023. After the merger was finalized in March 2024, former Congressman Devin Nunes, R-Calif., became CEO and Swider remained on the board. Swider received 153,000 shares when the merger closed, and another 26,000 in January 2025 through an incentive plan. In November 2024, Swider sold about 136,000 shares at $28.23 apiece, netting roughly $3.8 million. Since March 2025, Swider has made four additional sales—most recently 8,500 shares earlier in June—reducing his holdings to 17,500 shares. Swider and Trump Media did not respond to requests for comment. It's unclear why Swider has sold about 90% of his holdings, and he does not appear to have commented on the transactions. Contra No other Trump Media insiders have sold comparable amounts, according to SEC filings. President Donald Trump, whose 114.8 million shares are held in a revocable trust where he is the sole beneficiary and donor, has not reported any sales. Others, including Nunes, have only sold shares to cover tax withholdings, not directly receiving any cash proceeds. Big Number $4.8 million. That's how much Swider has made so far from Trump Media—counting stock sale proceeds, the current value of his remaining shares and a $45,000 cash retainer. Key Background Swider joined Digital World's board in 2021 and became CEO in 2023, as the SPAC pursued a drawn-out merger with Trump Media that took 29 months to complete. During that time, a former Digital World board member was convicted of insider trading, the company admitted to two years of unreliable financials and it paid $18 million in penalties to the SEC for failing to disclose early Trump Media talks. After the merger finalized in March 2024, turmoil continued: Trump Media's cofounders sued over allegedly diluted stakes, prompting a countersuit. The company also replaced its auditor after the SEC accused its accounting firm, BF Borgers, of 'massive fraud' involving more than 250 clients (Borgers agreed to pay a $12 million fine and an industry ban). Swider's term on Trump Media's board is set to expire in 2027. In a 2024 filing, Trump Media disclosed Swider failed to report a change in his stock holdings to the SEC within the required timeframe. What To Watch For In March, Swider and Nunes launched a new blank-check firm, Renatus Tactical Acquisition Corp I, targeting acquisitions in cryptocurrency, cybersecurity and dual-use tech—sectors with significant regulatory and government involvement, in which the Trump administration has major influence. Swider holds 50,000 shares directly and controls another 5 million through an LLC. Surprising Fact Trump Media warned in May that 'material misstatements' may have appeared in its financial filings, citing weak internal controls and a lack of SEC reporting expertise—though a company spokesperson told Forbes the filing was 'a routine disclosure that TMTG has repeatedly made in the past, and is typical for former shell companies, that does not in any way indicate an intention to restate any of TMTG's financial reporting.' News Peg Trump Media is in the midst of reshaping its finances, raising $2.3 billion from institutional investors in May to fund bitcoin purchases, registering a crypto ETF with the SEC and announcing plans Monday to buy back up to $400 million in shares. Forbes estimates Donald Trump's net worth at $5.2 billion, with $2.1 billion tied to his 114.8 million shares in Trump Media, as of the market close on Tuesday. Most of his fortune is now tied to crypto holdings. Editor's Note In November 2023, Trump Media sued 20 media outlets, including Forbes, for reporting that included calculations of its financial results while still a private company. The defendants have moved to dismiss the claims but the case is currently ongoing. Further Reading The 3 Easy New Ways Anyone Can Funnel Money Directly To Donald Trump's Businesses (Forbes) CEO Devin Nunes Made $47 Million While Truth Social Parent Company Reported $401 Million In Losses In 2024 (Forbes) Trump Media Shares Rise After Planning Fintech Brand—Trump's Net Worth Spikes Over $200 Million (Forbes) Truth Social Hosted Party At Trump's Mar-A-Lago (Forbes) Trump-Linked SPAC Spent $10.8 Million On Legal Fees Amid Regulatory Probes (Forbes) When It Comes To Truth Social, Republicans In Congress Aren't Buying What Trump's Selling (Forbes)
Yahoo
23-06-2025
- Business
- Yahoo
Trump Media stock rises after announcing $400 million share buyback
-- Trump Media and Technology Group Corp. (NASDAQ:DJT) stock rose as much as 6% pre-open on Monday after the company announced its board of directors has authorized a share repurchase program of up to $400 million. After an initial spike, gains were pared to up 2%. The operator of Truth Social said the buyback would include either stocks or warrants through open market transactions, with repurchased shares to be retired. The timing and amount of repurchases will be at the company's discretion, in compliance with SEC rules. "The Board took a vote of confidence in our Company, our stock, and our strategic plans," said Trump Media's CEO and Chairman Devin Nunes. "Since Trump Media now has approximately $3 billion on its balance sheet, we have the flexibility to take actions like this which support strong shareholder returns, as we continue exploring further strategic opportunities." The company noted that the share repurchase authorization would be funded separately from its previously announced Bitcoin treasury strategy, which featured a private placement offering of approximately $2.3 billion. Additionally, Trump Media said it may seek to repurchase its outstanding convertible notes in open-market or privately-negotiated transactions, with broad discretion over terms and pricing. Related articles Trump Media stock rises after announcing $400 million share buyback Monte dei Paschi reportedly got ECB nod for Mediobanca takeover RFK Jr. to speak at Gavi vaccine fundraiser amid funding concerns
