Oct 17, 2023 - Economy
Tucker Carlson raises $15M for new media company
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Tucker Carlson has raised $15 million to grow his media company, a source familiar with the deal tells Axios.
The big picture: Carlson's new venture is expected to center around video. Some of that will be shared via social platforms like X, but he'll also launch his own website and app, as Axios previously reported.
- Carlson's owned and operated platforms may include a subscription paywall.
Details: The money comes from 1789 Capital, which was founded by banker Omeed Malik to invest in "anti-ESG" companies.
- 1789 Capital's investment is structured as a SAFE (simple agreement for future equity), which will allow Carlson to convert it into equity when he later raises money at a set valuation.
- Malik and Carlson have a long history, as the former banker once backed The Daily Caller, which Carlson co-founded in 2010. Malik also led a blank check company that acquired PublicSq, an "anti-woke" online marketplace that recently struck an ad deal with Carlson worth more than $1 million.
- The Wall Street Journal, which first broke the news of the investment, notes that Carlson's company is registered in Nevada under the name Last Country Inc.
The big picture: Carlson is currently embroiled in a legal battle with his former employer Fox News over a breach of his contract after he exited the network in April.
- His new venture includes Carlson's former executive producer at Fox News Justin Wells, and Neil Patel, a former advisor to then-Vice President Dick Cheney and the Daily Caller's current publisher.
- A spokesperson for Carlson did not comment.
