This isn’t the least bit surprising. Donald Trump is a predictable creature of habit. Right now he believes he has something bulletproof in Truth Social and so of course he’s seeking to expand it — when it’s literally been trading on the stock exchange for two days, which in anyone’s book is a maiden voyage. And a lot of things can happen on a maiden voyage. You may remember a big ship that sank in April of 1912 on its first time out of harbor.
Newsweek is reporting that “Donald Trump’s Media & Technology Group updated its investor relations page with plans for its first venture aimed at enhancing shareholder value—a “non-woke” streaming service.”
Called TMTG+, the subscription-based service first announced by Trump in 2021 is expected to include “non-woke” entertainment in the form of news, documentaries, podcasts and other content outside of the purview of what it calls “Big Tech’s” influence, according to the page. The move would appeal to viewers disillusioned with the current landscape of digital content. […]
While further details are unknown, the fledgling company whose stock has performed dramatically well since being launched on Tuesday, may soon be pressured by investors to create value as the Trump-owned venture has not brought in much in terms of revenues since its launch in 2022. […]
Owning a 58 percent stake, Trump, if elected in November, would be the first U.S. president with a controlling stake of a publicly traded company, but it wouldn’t be the first time he’s had a stock on the market.
Issuing its IPO in June 1995 and filing for Chapter 11 Bankruptcy protection just nine years later, Trump Hotel & Casino Resorts traded on the New York Stock Exchange under the ticker DJT—the same symbol as Truth Social—and, just like Truth Social, saw a strong market debut.
However, over the course of its short life as a publicly traded company, Trump Hotel & Casino Resorts saw its debt swell to $1.8 billion before Trump entered a deal with Credit Suisse that saw its debt reduced, and his stake cut from 56 percent to 25 percent, according to a 2004 NBC News report.
This all makes perfect sense. Trump has long contended that when he’s reelected that he will take on broadcasters and he’s also suggested, even as a candidate, that certain networks and outlets should lose their FCC licenses. Here’s his chance to play Big Brother, literally, not only being in charge of the government but in charge of state-sponsored media as well.
He’s already got Big Brother’s Two-Minute hate taking place. That’s what his rallies are, a chance to blaspheme, swear, ridicule and generally spew venom, while he laps up the roar of the greasepaint, the smell of the crowd. Or is that his own smell?
So DJT had to create another company; another path, just a little more convoluted, to getting to the money before that company folds when subscriptions go nowhere and investors realize there is no revenue stream.
— Joanna Z (@JannaCalifornia) March 27, 2024
This sounds entirely plausible. Maybe that’s exactly what Trump is doing. The question then becomes, with what or whose capital is Trump going to launch this streaming service, because they’re not cheap? And that brings us to the fact that just in the past couple of weeks he’s had trouble being trusted by a bond company so now, what, some major investor is going to come out of the woodwork and bankroll this for him?
All we can guarantee at this point is that things are not going to get any saner between now and November 5. Right now that’s the only surety that you have. All bets are off on anything else concerning Trump or this election.
first, dwac (slap myself in the face). they may be the one’s preventing Trump from getting his waiver. if he tanks the stock they would get hurt big time and I think they are mostly funded by institutional investors who won’t tolerate any funny business. crater the company and they pull their funding.
second, and this is important, it isn’t just the streaming service that’s expensive, it’s the content. and they would have to have a lot of it, not just dines D’Souza and walker, Texas ranger reruns and Mike hunter Huckabee infomercials on how to cure diabetes. if this gets off the ground it would probably be Trump University redux. I think they were supposed to have all sorts of big name “gust lecturers” and that never happened. maybe tik tok dude will give him the money. if you’re going to grift, go big. of course the rubes might not have any money left to subscribe
that’s supposed to be huckster Huckabee. I have issues with the site’s word suggestions. it has a tendency to do what it wants, not what I want.
If the investors did not know they were likely to lose their investment in a trump company, they are fools. There is likely something else going on here: money laundering jumps to mind…I wonder why?
“non-woke” entertainment, news, etc. Oh, the rose colored world racist, misogynist, bigots wish still existed. All I can say is-we’ll wave good-bye to you fools in our figurative rear-view mirror as we continue to progress.
I’ll just wait for Satan to stream a site from Hell.