Trump Media & Technology Group, TAE Technologies, and Texas Ventures Acquisition III have collectively decided to stop pursuing a spinoff of media assets that would have included the Truth Social platform. The announcement, made on June 10, effectively kills a deal structure that was only a few months old.
The original plan, first disclosed on February 27, envisioned spinning Truth Social and related media properties into a standalone publicly traded company, referred to as SpinCo, through a reverse merger with Texas Ventures Acquisition III. That plan is now dead. No specific reasons were given for walking away from it.
From spinoff to streamlining
The spinoff was always supposed to be a sidecar to a much larger transaction: TMTG’s merger with TAE Technologies, a fusion energy company. That merger, first announced in December 2025 and valued at over $6 billion, is still on track and expected to close in mid-2026.
The original structure was ambitious. TMTG would merge with TAE to create what the companies described as a leading publicly traded fusion power company. Simultaneously, Truth Social and other media assets would be carved out into a separate entity via the reverse merger with Texas Ventures, a special purpose acquisition company.
