Trump Media’s losses widen to $712.3 mn, Truth Social to become a separate firm

Trump Media & Technology Group, founded by U.S. President Donald Trump, is considering spinning off its social media platform Truth Social into a publicly traded company.

The company is in discussions with TAE Technologies and Texas Ventures Acquisition III about the proposed transaction, the company said on Friday.

Under the proposal, shares in the spun-off company would be distributed to ⁠eligible ​TMTG shareholders, after which the new entity would merge with a special purpose acquisition company.