DJT Trump Media in talks to spin off Truth Social

Trump Media and Technology Group It is exploring a spinoff of Truth Social, President Donald Trump’s preferred social media platform, it said Friday.

Truth Social may become a separate, publicly traded company upon completion of its merger with TAE Technologies, according to a press release.

Shares of Trump Media rose more than 1% in premarket trading Friday. The stock trades under the ticker DJT, which is also President Trump’s initials.

Such a deal would draw further public attention to Truth Social, the platform known for touting policies such as Trump’s military strikes and tariffs. Trump even previewed federal economic data ahead of its official release on Truth Social earlier this month.

Trump encouraged fans to support the app as its major stocks plummeted. Shares are currently trading around $11; This is well below the highs above $100 recorded as recently as 2022.

Trump has said he will not sell his majority stake in the stock after his election victory in 2024. Legal filings later that year showed that Trump had transferred his entire position to a revocable trust of which he was the sole beneficiary.

In such a deal, shares of Truth Social’s spinoff would be distributed to existing Trump Media shareholders, according to the press release. Truth Social’s independent company is the blank check company Texas Ventures Acquisition III Corp. will merge with.