Truth Social parent explores spinning off social media platform

Trump Media & Technology Group (DJT.O), opens new tab said on Friday it is in discussions with TAE Technologies and Texas Ventures Acquisition III about spinning off businesses including Truth Social into a new publicly traded company.

Under the proposal, shares in the spun-off company will be distributed to eligible TMTG shareholders, after which the new entity would merge with the special purpose acquisition company, News.Az reports, citing Reuters.

TMTG said no definitive agreement has been reached and discussions remain ongoing.

News.Az 

By Faig Mahmudov