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WSJ, Media Cover Newsmax IPO Plan

By    |   Tuesday, 11 June 2024 10:51 PM EDT

The Wall Street Journal was among several major financial media outlets to report on Newsmax's announcement that it plans to go public later this year.  

On Monday the Wall Street Journal published a report headlined "Newsmax Considers IPO With Private Placement of Up to $225 Million" after the media company made a regulatory filing Monday morning. 

Newsmax announced Monday on its channel and website that the company was seeking to become a public company, but would first engage in a private offering of up to $225 million.

Important: Find out how to invest in Newsmax now – See More Here

The WSJ cited Newsmax's plan to raise capital in both private and public markets, seeking to be listed on Nasdaq or the New York Stock Exchange be the end of this year or in early 2025. 

Ratings service Morningstar also reported on Newsmax's plan to make a public offering, and noted the network witnessed a significant viewership bump in 2020 and again in 2023 in the aftermath of Tucker Carlson's firing from Fox News. 

The Washington, D.C.-based Axios on Tuesday ran a story comparing Newsmax's public offering plan to former president Donald Trump's successful public company Trump Media, which operates the popular Truth Social app.

Axios cited Trump's strong praise of Newsmax, mentioned in the company's promotional material.

"You like Newsmax, I like it too," Trump said about the network.

He added: "Newsmax has been really good ... people are watching it ... it's terrific."

Axios highlighted Newsmax's genesis, starting as a digital property in 1998 founded by CEO Christopher Ruddy. 

"The public markets are brutal for media companies right now, but Newsmax is betting it can buck that trend by leaning into the retail investor interest surrounding Donald Trump's firm," Axios said in its story.

Trump Media last year reported revenues of over $4 million, but holds a market valuation of over $7 billion today.

Newsmax says it expects to make revenues of $180 million to $200 million in 2024, promising significant growth in years ahead.

Financial news service MarketWatch, in a story headlined "Newsmax plans to go public in deal expected to raise $75 million," posted its coverage Monday afternoon.

Yahoo Finance published a similar report.

Launched in 2014, the Newsmax channel has become the nation's 4th highest-rated cable news network in the nation, according to Nielsen.

The network places just behind CNN. Along with other Newsmax properties, the company reaches more than 40 million Americans monthly.

Forbes has called Newsmax a "news powerhouse."

Investors: Find out about Newsmax Public Offering and how to invest now – See More Here

Mark Swanson

Mark Swanson, a Newsmax writer and editor, has nearly three decades of experience covering news, culture and politics.

© 2024 Newsmax. All rights reserved.


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The Wall Street Journal was among several major financial media outlets to report on Newsmax's announcement that it plans to go public later this year.
wsj, media, newsmax, ipo
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2024-51-11
Tuesday, 11 June 2024 10:51 PM
Newsmax Media, Inc.

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