Trump Media and TAE Technologies scrap Truth Social spin-off plans

Both entities stated that their primary focus remains on completing the previously announced merger between TMTG and TAE Technologies. They are targeting a closing date for this merger in the fourth quarter of 2026, or potentially sooner. Following the merger's completion, the board of directors for the combined company will evaluate strategic alternatives for the legacy business units, including TMTG's media assets, to enhance shareholder value.

Shares of TMTG experienced a slight decline, trading down around 1% in premarket trading. The company's stock has seen a significant drop of over 38% year-to-date. TMTG operates Truth Social, a social media platform, along with other ventures such as Truth+ and Truth.Fi.