Newsmax is offering a private investor offering for eligible investors in an effort to raise $225 million before beginning the process of going public.
"Newsmax gave the channel for free to DirecTV and then one day Newsmax said to DirecTV 'Look, instead of free, we'd like you to give us $13 million a year'. DirecTV said 'Are you kidding? For that crap?'"
Borrell Associates projects that figure will climb considerably over the next four years as the industry undergoes what it describes as a "great reshuffling."