In an exclusive interview with Fox News, President emeritus Donald J. Trump disclosed that his media company, Trump Media & Technology Group (TMTG), is currently “under development” and expected to be fully functional by early 2022.
Truth Social is a counter-punch to Big Tech’s anti-free speech behavior.
When Facebook and Twitter banned Trump from their platforms after the Capitol riot in January, he lost two of his most powerful megaphones. In June 2021, a statement released by Facebook said that the former president would not be allowed back on its service until at least January 2023, citing a risk to public safety and well-being as the reason. YouTube soon followed suit.
Truth Social is intended to be a haven for practitioners of the First Amendment and a way of “getting our voice out to a lot of people,” said Trump.
The TMTG- DWCA merger
In October, President Trump’s multimedia venture became a publicly listed company after merging with Digital World Acquisition Corp. and gaining a potential value of over $10 billion. The well-financed media company will be in “great shape,” and is “moving along very well,” said Trump.
The former president did not beat about the bush when speaking about the mission of TMTG, which he said is about “getting our voices out.”
TruthSocial and Rumble to join hands
The Trump Media and Technology Group (TMGT) announced the decision on Tuesday to partner with Rumble in a “wide-ranging technology and cloud services agreement,” while also saying the companies are in “exclusive negotiations” to launch a subscription-based streaming service called TMGT+.
TMGT also claimed for the first time that a beta version of the TruthSocial website had been launched after it was reported the beta version hadn’t gone online by TMGT’s self-imposed November deadline.
Trump said in a statement that Rumble is already providing cloud services to the beta website, which he said is for “guests only.”
A full rollout is expected in the first quarter of 2022.
“The initial Beta launch has been excellent,” Trump said. “America is ready for TRUTH Social, and the end to Cancel Culture.”
The ideology behind the partnership
After Biden won the presidential elections for 2020, conservatives had some of their content demonetized on YouTube. This was why they moved over to the Rumble app, as it makes it much easier for video content creators to make money as the service is not limited to advertising-based revenue for content creators. TruthSocial is being projected as a social media platform along the same lines.
A big part of Rumble’s appeal to video content creators is that it does not filter its content as much as YouTube. Therefore, a lot of content creators find Rumble to be a “free speech friendly” app. Judging from Trump’s remarks about TruthSocial being ‘the end of Cancel Culture,’ this TruthSocial- Rumble alliance can be deemed a match made in heaven.
Nunes resigns from Congress to take on a senior executive role at TMTG
Rep. Devin Nunes, R-Calif, resigned from Congress to become chief executive of former President Donald Trump’s fledgling social media company next month, the group said on 6 December.
In January, the top Republican on the House Intelligence Committee, Nunes, will start as CEO of Trump Media & Technology Group, or TMTG, the firm said in a press release.
The press release came hours after documents revealed that the unique purpose acquisition company — or SPAC — that plans to merge with Trump’s company is being investigated by the Securities and Exchange Commission. The SEC and another regulator had asked the SPAC, Digital World Acquisition Corp. or DWAC, for information about the lead-up to the deal with TMTG being announced.
Effect of the news on share prices
Shares of DWAC rose more than 7% in after-hours trading following the announcement that Nunes had been tapped to lead TMTG.
The opportunity cost for Nunes
Nunes is just the second member of the 117th Congress to resign before the end of his term. If the GOP regains majority control of the House in the 2022 midterm elections, Nunes would have been in line to become chairman of the influential, tax-writing Ways and Means Committee.
Trump hails Nunes as a ‘fighter.’
Praising Nunes as a “fighter,” Trump said, “Devin understands that we must stop the liberal media and Big Tech from destroying the freedoms that make America great.” A dairy farmer by trade, Nunes was elected to the House of Representatives in 2002 and served as part of President Trump’s 2016 transition team.
As the new year rolls in, Trump is rolling out a masterful offense against a “corrupt” mainstream media that he says “certainly is not a free press.”
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