Apr 29, 2021 - Politics & Policy

Scoop: Inside the pitch to create Trump Media Group

Illustration of Trump on a TV

Illustration: Aïda Amer/Axios

Donald Trump last month was pitched on launching a multi-billion dollar media and technology company built around his personal brand, with the idea that it could go public via a SPAC.

Behind the scenes: The 24-page presentation made its way to Trump's desk at Mar-a-Lago, although it does not seem to have gained traction with the former president.

  • One individual listed as being part of the proposed management team says he is no longer involved, while another says he was never affiliated with the effort.

The idea: Trump Media Group — headed by Trump as its CEO, chairman and president — is referred to in the pitch deck as "a conservative media powerhouse that will rival the liberal media and fight back against 'Big Tech' companies of Silicon Valley."

  • It was to be comprised of three divisions: Trump+ (a subscription-based content business that gets compared to Netflix and Disney+), Trump Social Media (which would take a stake in existing companies or build its own), and Trump Technologies (which would provide alternatives to internet services like AWS and Stripe, and promise not to censor customers).
  • It forecast a base case valuation of $15 billion, with Trump+ alone at $9.2 billion.
  • It also suggested that TMG would go public, and presumably raise capital, via a SPAC. No mention of other funding sources, including if Trump would be asked to invest.

The bottom line: While this particular proposal seems dead in the water, it offers a glimpse into the sorts of business endeavors being presented to Trump, who has expressed interest in building a new media company.

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