Trump Media & Technology Group ($DJT) and TAE Technologies said they will not proceed with plans to spin off Truth Social and certain other media assets into a separate publicly traded company. The companies said they remain committed to completing their previously announced $6 billion merger, which is expected to close in the fourth quarter or sooner, creating a public company focused on fusion energy and utility-scale power generation.
- Trump Media and TAE abandoned discussions to spin off Truth Social into a separate public company.
- The companies did not provide a reason for ending the proposed spinoff transaction.
- The previously announced all-stock merger between Trump Media and TAE remains on track for completion in Q4 2026 or earlier.
- TAE Technologies is developing nuclear fusion technology and has raised more than $1 billion from investors.
- After the merger closes, the combined company's board will evaluate strategic alternatives for Trump Media's legacy media assets.
- Trump Media shares have fallen more than 38% year-to-date.
Relevant Companies
- Trump Media & Technology Group ($DJT) - The company will retain ownership of Truth Social while pursuing its planned merger with TAE Technologies.
- Alphabet ($GOOGL) - Google is an investor in TAE Technologies, which remains on track to merge with Trump Media.
- Chevron ($CVX) - Chevron is also a TAE investor and could have indirect exposure to the company's fusion energy development efforts.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
