TL;DRTrump Media dropped its planned Truth Social spinoff into a SPAC run by Trump family allies. The $6 billion fusion merger with TAE Technologies is still on track for Q4 2026.
Trump Media & Technology Group, TAE Technologies, and Texas Ventures Acquisition III have decided not to proceed with a planned spinoff of Truth Social and other media assets. The three companies said in a statement on Wednesday that Trump Media and TAE remain committed to closing their $6 billion merger in the fourth quarter of 2026 or sooner.
The spinoff discussions began in February, when the companies announced they were exploring a deal to place Truth Social into a new publicly traded entity that would merge with Texas Ventures Acquisition III, a blank-check firm. Texas Ventures is run by allies and business partners of the Trump family, including executives from the Trump Organisation.
What the spinoff would have done
The structure would have separated Truth Social from the combined Trump Media-TAE entity after the fusion merger closed. Shares of the spinoff company would have been distributed to Trump Media shareholders of record from before the TAE merger, and the new company would then have merged with Texas Ventures, a SPAC.
