Will Newsmax become Trump TV? President's allies mount $200M bid to buy right-wing outlet to counter Fox News
President Donald Trump's allies are reportedly attempting to create a pro-Donald news network by buying Newsmax, a right-wing outlet, for $200 million. The news comes days after it was reported that the Republican leader is planning his own conservative news channel in an act of vengeance against Fox News. Trump, over the past few weeks, has become increasingly critical of Fox, once his beloved network, over its election coverage.
Private-equity firm Hicks Equity Partners has been attempting to raise $200 million for buying and investing in a right-wing network, which can be a competitor to Fox, and have recently zeroed in on Newsmax, sources told the Wall Street Journal. Newsmax, a conservative American news and opinion website operated by Newsmax Media, was founded by Christopher Ruddy on September 16, 1998. Thomas Hicks, a Trump supporter, is currently spearheading the Newsmax effort, the outlet reported. Although Newsmax has seen a significant spike in its viewership amid the election season, Fox holds a greater lead over the outlet, with nearly 6 million viewers for primetime.
President Trump and his campaign, ever since Election Day, have falsely claimed that they won the 2020 presidential elections and have consistently floated claims of voter fraud without providing any evidence. Newsmax, in line with Trump's personal views, has also echoed the same unsubstantiated claims.
It is not yet certain whether Hick Equity will move forward with the purchase, however, some investors and Trump allies believe that Newsmax could be a worthy challenger to Fox. Newsmax Media Chief Executive Chris Ruddy, while talking to The Journal, said: "Newsmax never had any deal with the Hicks Group..." Ruddy also disapproved of the use of the company's name "for the purposes of capital fundraising."
Ruddy, in a separate interview with Variety, however, said that Newsmax has no intention of becoming "Trump TV." “Newsmax would never become ‘Trump TV,'” Ruddy said. “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," he added.
Trump's recent ire at Fox erupted after the network called the state of Arizona for his political rival Joe Biden on election night itself. Fox, a renowned conservative network, was the first outlet to call Arizona, which has voted Republican for years. Although the Associated Press also came up with the results shortly after, several other news outlets held off from declaring the state in favor of the former vice president as the margins were high. Fox, despite pressure from Trump administration officials, however, stuck to its call.
The Republican, over the past few months, has been visibly frustrated with Fox News' coverage, generally when the outlet's news is not in his favor, like popularity or presidential polls. The Republican, during his first presidential debate against Biden in September, had slammed moderator and 'Fox & Friends' host Chris Wallace, claiming that the respected Fox news anchor was on Biden's side. The Republican, before Election Day, also complained about Fox News' polls, which showed the former vice president winning, and again denounced the network a day later by calling in to 'Fox & Friends' show and complaining to the hosts about their network. He said: "Fox, it's much different now. In the old days, they wouldn't put sleepy Joe Biden on every time he opened his mouth. . . . It's a much different operation — I'm just telling you."
Trump, whose days in the White House are now numbered, has reportedly vowed to exact revenge on the network, The Washington Post reported citing sources from his administration. The Republican, however, continues to remain close to some of its opinion hosts, including Sean Hannity, Laura Ingraham, and Jeanine Pirro.