Trump Media enters discussions to spin off Truth Social

The Trump Media & Technology Group (TMTG) on Friday announced that it had entered discussions with Texas Ventures Acquisition III Corp. and TAE Technologies about moving Truth Social to a new public company after the completion of a TMTG-TAE merger.

TMTG currently operates Truth Social as its flagship product, though the company has vastly diversified its holdings and entered both cryptocurrency and nuclear energy. The company is in the process of merging with TAE and the firms have yet to finalize plans for the platform.

The potential new company would be dubbed SpinCo and remain under the purview of the larger firm, post-merger. SpinCo's stock would go to TMTG shareholders and that firm with merge with Texas Ventures.

"TMTG, TAE, and Texas Ventures III caution that no definitive agreement has been reached and discussions are still ongoing," the firms said in a statement. "They also note that there can be no assurance that any transaction will result from these discussions, on what terms any transaction may occur, or the timing of any such discussions or transaction. Any definitive agreement(s) would be subject to the approval of the respective companies’ boards, regulatory and shareholder approvals, as well as other customary closing conditions."

Ben Whedon is the Chief Political Correspondent at Just the News. Follow him on X.