Last updated on November 18th, 2020 at 05:34 pm
Trump‘s allies are trying to put together enough money so that they can buy the soon to be former president a cable news network.
The Wall Street Journal reported:
For nearly two years, allies of President Trump have been exploring ways to build up a formidable competitor to Fox News. One target they recently zeroed in on: the fledgling pro-Trump cable channel Newsmax TV.
Hicks Equity Partners, a private-equity firm with ties to a co-chair of the Republican National Committee, has held talks in recent months about acquiring and investing in Newsmax, according to people familiar with the matter, part of a larger effort that could also include a streaming-video service.
A Trump cable news network seems like a really bad idea. Trump is a terrible businessman, and while he is out for revenge on Fox News for an Arizona call that he feels cost him the election, the idea of competing with Fox with the floundering Newsmax TV looks like a losing proposition. Despite endless promotion and elevation from Trump, OAN has not been able to challenge Fox.
Newsmax isn’t as widely available as Fox and they just hit their ratings record during election week with 223,000 viewers.
The vultures are out, and with the Trump presidency soon to be history, they are looking for a new way to captialize on his cult of personality.
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