Donald Trump is bringing TRUTH to social media.
The former president on Wednesday announced that he is creating “TRUTH Social,” a social media network expected to be in full swing by the first quarter of next year.
TRUTH Social will have an initial launch for invited guests in November, according to a news release from Trump Media and Technology Group. Those interested in signing up can visit www.truthsocial.com.
Trump was banned from Twitter, Facebook, and other sites in the aftermath of the Jan. 6 Capitol incursion. Meanwhile, leaders of countries known to sponsor terrorism are free to use Twitter, as are outright terrorist organizations, such as the Taliban.
“I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech. We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable,” Trump said in the news release.
“I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all. I’m excited to soon begin sharing my thoughts on TRUTH Social and to fight back against Big Tech. Everyone asks me why doesn’t someone stand up to Big Tech? Well, we will be soon!”
The site explains its purpose on its “Our Vision” page.
“In the year 2021, the media pendulum has swung dangerously far to the left. Silicon Valley, the mainstream media, and Big Tech have begun to forcibly silence voices that do not align with their woke ideology,” the site states.
“Big Tech platforms demonetize, throttle, and cancel those who stray from the mainstream narrative. They are not just censoring content – they are determining what can and cannot be said. By controlling how information is shared, they control the narrative. They control the future. They control you.
“To counter this dangerous exercise of Big Tech monopoly power, President Donald J. Trump and TMTG are building a media and technology company rooted in social media, digital streaming, and more,” the site states.
“TMTG intends to even the playing field by providing people with open media platforms where they can share and create content without fear of reputational ruin.
The company’s release states that it will launch a subscription video on-demand service it is calling TMTG+
TMTG+ “will feature ‘non-woke’ entertainment programming, news, podcasts, and more,” the release states.
Scott St. John, executive producer of the shows “America’s Got Talent” and “Deal or No Deal” will lead this part of the company, the release stated.
The Wednesday statement also announced a merger between Trump Media & Technology Group and Digital World Acquisition Corp., pending all approvals.
For those interested in the money, the statement reported that, “The transaction values Trump Media & Technology Group at an initial enterprise value of $875 Million, with a potential additional earnout of $825 Million in additional shares (at the valuation they are granted) for a cumulative valuation of up to $1.7 Billion depending on the performance of the stock price post-business combination.
“Trump Media & Technology Group’s growth plans initially will be funded by DWAC’s cash in trust of $293 Million (assuming no redemptions),” the statement said.
In the release, Patrick F. Orlando, chairman and CEO of Digital World Acquisition Corp., said the merger would create an opportunity to “build strong and secure networks and diverse media offerings.”
“Digital World was formed to create public shareholder value and we believe that TMTG is one of the most promising business combination partners to fulfill that purpose,” he said.
“DWAC currently has $293 Million in trust, assuming minimal redemptions, which can fuel TMTG’s scale-up, including to provide world-class leading technology services to build strong and secure social networks and diverse media offerings. Given the total addressable market and President Trump’s large following, we believe the TMTG opportunity has the potential to create significant shareholder value.”
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