In an interview with Variety, conservative news portal Newsmax Media Inc’s CEO Christopher Rudy said that Newsmax is not actively looking to sell itself.
A Wall Street Journal report claimed that private equity firm, Hicks Equity Partners, was planning to acquire Newsmax’s cable channel.
However, Rudy said that he is open to casting outgoing President Donald Trump in a weekly show after his stint in the white house ends.
What Happened: Rudy remarked that Donald Trump is “going to be a political and media force after he leaves the White House,” and Newsmax is open to talking to him about a weekly show.
He also clarified that irrespective of Trump’s response to the weekly show, “Newsmax would never become ‘Trump TV.’”
Bloomberg report says that the news platform is gunning to outpace Fox Corp FOX-owned Fox News over the next 12 months.
Reportedly, Fox News is losing Trump loyalist viewers, especially after the media channel hastily announced Joe Biden’s victory in Arizona. The exodus of Trump supporters from Fox News and other such media outlets presents Newsmax with a growth opportunity.
Newsmax’s viewership between 7 p.m. and 8 p.m. on Thursday last week was close to a million, and the average primetime viewership during the election week jumped more than 1.5 times, according to Nielsen Holdings PLC (NYSE: NLSN) data cited by WSJ.
Why Does It Matter: WSJ reported that Hicks Equity Partners’ Thomas Hicks is a Trump supporter and his interest in acquiring Newsmax was to create a Fox news rival. One of Hick’s son also co-chairs the Republican National Committee.
Rudy refused, saying there was “no deal” with Hicks Partners though he had spoken to them “on and off through the past three years."
He also said that despite receiving a show of interest from investors, his news agency plans to continue acting as an independent entity and steer clear of any sale or acquisition deals.
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