Trump Media & Technology Group in talks to spin off Truth Social
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Trump Media & Technology Group said Friday it is in talks to spin off Truth Social into a new publicly traded company.
Why it matters: Trump's eponymous company began exclusively as a social media venture, but balance sheet growth has come from other efforts.
Zoom in: TMTG said a potential split would follow the close of its previously announced merger with nuclear fusion startup TAE Technologies.
- TMTG businesses including Truth Social would merge with a blank-check company called Texas Ventures Acquisition III Corp.
- Shareholders of TMTG before the TAE merger closes would receive shares in the new company.
- The combined TMTG-TAE company would retain TMTG's balance sheet and the fusion company's technology.
The big picture: The companies said the plan will create "two pure play companies, each with distinct strategies."
- The TAE merger would extend President Trump's business interests into the heavily regulated nuclear space while unlocking new resources for the fusion company, Axios' Ben Geman noted when the deal was announced.
- It also would also be the first test of public markets' appetite for fusion, a technology that's long been more science fiction than reality.
- TMTG shares were slightly higher Friday morning, trading around $11 a share. Still that's a fraction of the stock's all-time highs.
What's next: TMTG previously said it expects its deal with TAE to close in mid-2026.
- TMTG did not immediately respond to a request for comment.
Disclosure: In 2023, TMTG sued 20 media organizations, including Axios, for defamation. Litigation is ongoing.
