THE DAILY REFORMER (NEW YORK, UNITED STATES)
Newsmax’s CEO Christopher Ruddy has responded to rumors that Trump allies are trying to buy his company.
In a bold statement to Variety, Ruddy said “We would like to overtake Fox News in the next 12 months, and I think it’s do-able.”
A report from the Wall Street Journal claims Trump allies “Hicks Equity Partners” has been trying to buy Newsmax.
The report writes:
For nearly two years, allies of President Trump have been exploring ways to build up a formidable competitor to Fox News. One target they recently zeroed in on: the fledgling pro-Trump cable channel Newsmax TV.
Hicks Equity Partners, a private-equity firm with ties to a co-chair of the Republican National Committee, has held talks in recent months about acquiring and investing in Newsmax, according to people familiar with the matter, part of a larger effort that could also include a streaming-video service.
CEO Christopher Ruddy said to Variety “Newsmax would never become ‘Trump TV,’”
He added “We have always seen ourselves as an independent news agency, and we want to continue with that mission. But we are open — [Trump] is going to be a political and media force after he leaves the White House, and we would be open to talking to him about a weekly show.”
Ruddy also said “we are not actively selling” the company at this time, though he notes he has had expressions of interest from “investors, investment banks and strategic players” in the recent past.
“We listen to them, but our main focus is continuing: We would like to overtake Fox News in the next 12 months, and I think it’s do-able.”
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