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00:02Trump Media and Technology Group said it is in discussions to spin off businesses
00:06into a new publicly traded company, according to the Wall Street Journal.
00:10The businesses under consideration include Truth Social,
00:13and the move would follow the close of its previously announced merger with TE Technologies.
00:18The company said shares of the new entity would be distributed to DJT shareholders of record
00:23before the TE merger closes. The new company would then merge with Texas Ventures Acquisition 3,
00:28a special purpose acquisition company. Trump Media agreed in December to merge with
00:33fusion energy company TAE in a $6 billion deal. TAE counts Alphabet, Chevron, and Goldman Sachs
00:39among its backers. The company said no definitive agreements have been reached.
00:43The stock has lost more than half its value over the past year.
00:46For all things money, visit Benzinga.com.
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