Trump Media Drops Truth Social Spinoff Plan, Sticks With $6 Billion TAE Merger
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Trump Media & Technology Group, TAE Technologies Inc. and Texas Ventures Acquisition III have decided not to continue pursuing a spinoff of some media assets, including Truth Media and TAE, a California-based fusion-energy company, remain committed to finalizing their $6 billion merger announced late last year, the companies said in a statement on Wednesday. They intend to close the transaction in the fourth quarter of this year or sooner.
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