President Trump has recently made it known that he’s not very pleased with Fox News, a network that the president would often call into to talk to the American people. However, Trump has stated that they have forgotten their “golden goose” and is looking towards developing his new media.
As President Trump is counting his time until he departs from The White House, his next venture will likely be building up a conservative media outlet called Newsmax to compete with Fox News.
Furthermore, Allies of the president are looking to invest in his network. The Wall Street Journal reports that Trump’s allies have explored options to compete with Fox News for the last two years.
Hicks Equity Partners, a private-equity firm with connections to a co-chair of the Republican National Committee, have been in discussions in recent months with the media company about investing in Newsmax, the WSJ also reports.
Nonetheless, Newsmax Media Chief Executive Chris Ruddy denies any report of Trump allies looking to invest in the news media outlet.
“Newsmax never had any deal with the Hicks group, and if it’s true they were using our name for the purposes of capital fundraising, that is wholly inappropriate,” Ruddy said.
Eduardo Razo is the Assistant Content Editor for BNM, which includes writing daily news stories on the news media industry. He can be found on Twitter @eddierazo_ or you can reach him by email at eddie1991razo@gmail.com.
