• By The Financial District

Trump Forms Social Media Site For 'Free Speech' But Bans Critics

Nine months after being expelled from social media for his role in inciting the Jan. 6 Capitol insurrection, former President Donald Trump said Wednesday he’s launching a new media company with its own social media platform, Jill Colvin reported for the Associated Press (AP).


Photo Insert: An earlier effort to launch a blog on his existing website was abandoned after the page drew dismal views



Trump says his goal in launching the Trump Media & Technology Group and its “Truth Social” app is to create a rival to the Big Tech companies that have shut him out and denied him the megaphone that was paramount to his national rise.


Trump has spoken about launching his own social media site ever since he was barred from Twitter and Facebook. An earlier effort to launch a blog on his existing website was abandoned after the page drew dismal views.



TMTG has not set its sights low. In addition to the Truth Social app, which is expected to soft-launch next month with a nationwide rollout early next year, the company says it is planning a video-on-demand service dubbed TMTG+ that will feature entertainment programming, news, and podcasts.


One slide in a TMTG presentation on its website includes a graphic of TMTG’s potential competitors, which range from Facebook and Twitter to Netflix and Disney+ to CNN. The same slide suggests that over the long term TMTG will also become a power in cloud computing and payments and suggests it will go head-to-head with Amazon, Microsoft, Google, and Stripe.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

Trump's partner in the deal is Digital World Acquisition, which is a "special purpose acquisition company," or SPAC.


"These so-called blank-check companies are an increasingly popular type of investment vehicle that sells shares to the public with the intention of using the proceeds to buy private businesses," the New York Times reported.


Government & politics: Politicians, government officials and delegates standing in front of their country flags in a political event in the financial district.

"At the time that investors bought shares in Digital World, it had not disclosed what, if any, companies it planned to acquire. On its website, Digital World said that its goal was "to focus on combining with a leading tech company."


At least one of the investors, Saba Capital Management, did not know at the time of the initial public offering that Digital World would be doing a transaction with Mr. Trump, according to a person familiar with the matter."



WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic



Optimize asset flow management and real-time inventory visibility with RFID tracking devices and custom cloud solutions.
Sweetmat disinfection mat