October 21 (UPI) – Former US President Donald Trump on Wednesday evening announced his intention to launch a new public media company as well as a social media platform to compete with so-called liberal media and Silicon Valley.
The former Republican president and New York real estate mogul announced the company in a press release as Trump Media & Technology Group, which will be listed on NASDAQ through a merger with Digital World Acquisition Corp. if the plan receives regulatory and shareholder approval.
The company’s mission “is to create a rival to the liberal media consortium and to fight the ‘Big Tech’, who have used their one-sided power to silence opposing voices in America.”
Trump has been a vocal media critic and has been banned from most major social media platforms, including Facebook and Twitter, due to the added risk of incitement to violence after the Jan.6 siege by his supporters on the Capitol building, which resulted in the deaths of five people and more than 140 wounded law enforcement officers.
According to the press release, TMTG will launch TRUTH Social soon, with its first “guests” to be invited to the platform for a beta next month and a nationwide rollout slated for the first quarter of the year. next.
âI created TRUTH Social and TMTG to resist the tyranny of Big Tech,â Trump said. “We live in a world where the Taliban have a strong Twitter presence, but your favorite US president has been silenced. This is unacceptable. I am delighted to send my first Truth on Truth Social very soon.”
Patrick Orlando, president and CEO of DWAC, said his company held $ 293 million in a trust, acquired when it went public in September.
âDigital World was created to create value for public shareholders and we believe TMTG is one of the most promising business combination partners to achieve this goal,â he said in a statement.
TMTG also plans to launch a subscription video-on-demand service that will deliver “entertainment programs, news, podcasts and more.” Scott St. John, executive producer of Agree or disagree and America has talent, has been appointed head of TMTG + Corporate Operations.