President Trump's allies have considered investing in the conservative television network Newmax TV, which campaigned for the commander-in-chief and has not yet scheduled the election for Joe Biden, the report said.
The Wall Street Journal reported that Hicks Equity Firm, a private equity firm affiliated with a co-chair of the Republican National Committee, has expressed an interest in Newsmax as a competitor of Fox News.
Newsmax has seen a surge in viewership since election day when some Conservatives and Trump loyalists resented Fox News and other similar companies naming Joe Biden as president-elect.
Headquartered in West Palm Beach, Florida, where Trump International Golf Course is located, Newsmax has teamed up behind President Trump's unsubstantiated claims of election fraud.
The Wall Street Journal reports that President Trump's allies (left), including the Hicks Equity Firm under founder Thomas Hicks (right), have expressed an interest in acquiring Newsmax
Newsmax TV is a right-wing conservative pro-Trump network based in West Palm Beach, Florida that was founded in 2014
It is unclear how far the discussions have progressed between Hicks Equity and Newsmax, reports The Journal, but Chris Ruddy, chief executive of Newsmax Media, said no deals had been closed.
"Newsmax never had a deal with the Hicks Group and if it is true that they are using our name for fundraising purposes, that is totally inappropriate," Ruddy told The Journal, adding that Newsmax has had several discussions over the years .
In the meantime, Trump has repeatedly ditched his relationship with Fox News.
& # 39; (Fox News) Daily ratings have completely collapsed. Even worse at the weekend, "wrote Trump on November 12th.
“Very sad to see that, but they have forgotten what made them successful, what brought them there. You forgot the golden goose. The biggest difference between the 2016 and 2020 election was (Fox News)! & # 39;
President Trump reiterated his attacks on Fox News after calling Joe Biden's election last week
Trump's four-year relationship with Fox News has shifted between public admiration and commendation, depending on how coverage hits him.
His post-election criticism of Fox News coincided with its recent recognition from Newsmax and One America News Network (OANN), a far-right and pro-Trump network.
"For this reason have lost their ratings during the day and on the weekend," wrote Trump on Sunday, referring to a segment.
They're miserable when they @ alfredenewman1 (Mayor Pete of Indianas by far the most unsuccessful town!) Have more than Republicans. Many great alternatives are forming. Try out OANN & Newsmax, among others. & # 39;
Trump urged his followers to join other conservative networks like Newsmax TV and OANN
Joe Biden (pictured) was named president-elect last week after states cast votes in the hotly contested 2020 election
For Newsmax to overtake Fox News, the leading cable network for years, it would have to steal a significant proportion of its average 3.5 million nightly viewers.
The Journal reports that Newsmax's average prime-time audience rose 156 percent to 223,000 viewers during election week and topped a million viewers last Thursday from 7:00 p.m. to 8:00 p.m. – about half of Fox News' then audience.
Cable King Fox News averaged nearly six million prime-time viewers during election week.
According to media analyst Michael Nathanson, taking 20 percent of the Fox News audience could translate into roughly $ 200 million in annual earnings by 2024.
There have been reports that Trump has been considering building his own network, but The Journal reports that he is currently focused on potentially reversing the election results.
Industry experts told The Journal that if Trump continued to pursue the company, Trump could find a decent market, but it would likely be streaming and not on the scale of television networks.
"I think it's an easy million subscribers for someone like Trump," Chris Balfe, partner at digital media consultancy Red Seat Ventures, told the publication.
If so, Trump could one day take on Fox News' streaming service Fox Nation.
Thomas Hicks-led Hicks Equity Firm has reportedly attempted to raise $ 200 million to help create more right-wing media channels.
It would be part of a bigger plan to build a network of conservative channels and the company had reportedly been talking about buying OANN. These discussions have reportedly stalled in the last few months but are still considered a good target.
Thomas Hicks' son, Thomas Hicks Jr., is currently the co-chair of the Republican National Committee and would likely not get involved in business while in his position.
Pictured: Thomas Hicks Jr. (left), co-chair of the Republican National Committee, and President Trump (center)
However, the Journal already reports that Hicks Equity Form reached out to some prominent Fox News officials about their plans.
Megyn Kelly was reportedly approached earlier this year about a possible anchor position at OANN, but reportedly turned down the offer in favor of starting her own media company.
Hicks Equity firm has also reportedly reached out to conservative donors and media to put together a streaming site and throw Fox News off the center.
Newsmax TV was started in 2014 by Ruddy, a friend of Trump and a member of the Mar-a-Lago Club in Palm Beach.
Ruddy told The Journal that Newsmax has not yet set the election in Biden's favor and will not do so until states certify the winners.
The Wall Street Journal reports that Hicks Equity Firm has turned to Magyn Kelly (pictured) to work for OANN when a successful acquisition is completed
Chris Ruddy, Chief Executive of Newsmax Media (picture): “In my experience, (Trump) will accept the result of the state certification. He can't be happy. I think he will support a smoother transition than what currently seems to be the case
After Fox News Arizona called Biden, several White House aides and Jared Kushner, a senior White House adviser and the president's son-in-law, called to challenge the projection.
Kushner reportedly called Fox Corp. chairman Rupert Murdoch, who refused to step down.
"When it's that tight, we should wait for the states to certify before we, as a media organization, project one or the other winner," Ruddy told The Journal.
He added that despite the circus that overtook Capitol Hill since election day, Trump is likely to give way.
& # 39; My experience is that he will accept the result of state certification. He can't be happy. I think he will support a smoother transition than what currently seems to be the case. & # 39;
(tagsToTranslate) Dailymail (t) Messages (t) Donald Trump (t) Joe Biden (t) Conservatives