Despite constant predictions over the past few years that it wouldn’t happen, the establishment media’s approval of a merger between a SPAC and the company that runs President Trump’s social media platform Truth Social Another big piece of news about former President Donald Trump was broadcast.
On Friday morning, shareholders of Digital World Acquisition Corporation (DWAC), a special acquisition purpose company (SPAC),approved The long-delayed merger with Trump Media & Technology Group would free up significant resources for Truth Social’s expansion and would likely bring Trump himself a hefty paycheck worth billions of dollars. It will be.
according to the hill Trump is expected to earn about $3.5 billion from his 79 million stock holdings, according to the paper, but there are agreements and clauses that prevent him from accessing that cash right away.
Nevertheless, the huge windfall for Trump comes as New York Attorney General Letitia James pursues Trump for a massive payout in the hundreds of millions of dollars. It’s welcome news for the former president as time is running out to find a solution to posting bail. Therefore, he can appeal the lower court’s decision.
But DWAC’s merger approval itself is another in a long list of stories that establishment media outlets have proven to be fabricated. Prophecies of Truth Social’s demise have been played out repeatedly over the years and in several media outlets.
“Truth Social is very strong and has been very strong, so I’m going to stay there.” https://t.co/s4uKmTTJQX
— Breitbart News (@BreitbartNews) November 21, 2022
For example, CNN in November 2023 I posted this headline: “‘Grave Doubts’ Trump’s Truth Social is Here to Stay, Accountants Warn”
The same month, new york magazine I posted this headline: “President Trump’s truth, social, is an undeniable failure.”
Also that month, Slate magazine I posted this headline: “The Harsh Truth of Truth Social.” A subheading beneath it wonders if the platform is on the verge of collapse, saying, “Donald Trump’s Twitter alternative is reeling. If it becomes a tank, where will he post it?”
In September 2023, guardian I posted this headline: “President Trump’s Truth Social platform faces an uncertain future as important tests loom.”
Back in September 2022, The Daily Beast I posted this headline On the basis of Reuters report: “The truth about Trump: Social mergers under threat after failed SPAC extension: Report”
Same month technology blog Gizmodo I posted this headline: “The Truth About President Trump: Social Transactions Are Reportedly Broken.”
In October 2022, time magazine in particular predicted The headline “Walls are closing in on Trump’s TRUTH Social” expressed the end of Truth Social.
Just a few weeks ago, on March 1st of this year, Politico set up the deal Some people may be troubled by the headline, “At the 11th hour, legal hurdles rise for President Trump’s real social compact.”
Some establishment media outlets suggested that President Trump was reconsidering his involvement with Truth Social during this period. As an example, washington post I posted this headline November 2022: “Trump once had second thoughts about sticking with Truth Social. Now he’s stuck.”
Truth Social CEO Devin Nunes says partisan ad boycotts are depriving President Trump’s social media platforms of revenue and warns against blacklisting of politically motivated ads is ringing. https://t.co/kahR2Oivp7
— Breitbart News (@BreitbartNews) March 10, 2023
Others tried to suggest that when billionaire Elon Musk buys Twitter, like in April 2022, it will discard Truth Social. bloomberg headline: “Elon Musk’s Twitter threatens to end President Trump’s truthful social media venture.”
But in recent days, as it looks increasingly likely that the merger will proceed as it is, the tone in the establishment media has shifted to the big windfall this deal is likely to bring to Trump and investors. There was a slight change in direction.
“Trump Media’s Blockbuster SPAC Deal Set Up to Enrich Allies and Enemies”, bloomberg headline This week’s reading.
“Trump is closer than ever to a huge social paycheck of truth.” new york magazine piece An article from a few weeks ago is in the headline.
“Trump’s Real Social Network debuts on Wall Street and could net him billions of dollars worth of stock on paper.” Associated Press headline Read from Thursday.
Similar headlines also appeared in the following places: wall street journal, BBC, business insidermore.
