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Trump’s Media Merger Gets Green Light, Bringing in New Cash Flow

Former President Donald J. Trump’s social media company has successfully completed a merger with a cash-rich shell company, boosting Mr. Trump’s wealth by billions and potentially providing a new source of funds to cover his growing legal expenses.

With the approval of the merger, shareholders of Digital World Acquisition Corporation will now become shareholders of Trump Media & Technology Group, which will be listed on the stock market under the ticker symbol DJT. This deal will inject over $300 million into Trump Media, which was running low on available funds, ensuring the continued operation of its flagship digital media platform, Truth Social.

Based on Digital World’s stock price of $44 per share just before the merger announcement, Trump Media’s market value upon debut will exceed $5 billion. This will result in Mr. Trump’s personal stake being valued at over $3 billion.

Trading of Trump Media shares under the new symbol could commence as early as next week.

The approval of this deal comes at a critical time for Mr. Trump, as he faces a looming deadline to pay a $454 million penalty in a civil fraud case in New York. He is prohibited from selling any of his shares or using them as collateral for a loan for the next six months, although there is a possibility of seeking a waiver from the merged company’s board.

In a statement released before the merger vote, Trump Media expressed that “the merger will empower Truth Social to improve and broaden our platform.”

This is breaking news. Stay tuned for further updates.

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Kevin McCarthy, former House Speaker, seeks revenge

Ousted House Speaker Kevin McCarthy is out for vengeance. After being voted out as House speaker, McCarthy left office at the end of 2023. Now, he is traveling the country giving speeches, appearing on TV, and plotting revenge against those who orchestrated his downfall.

Eight Republican lawmakers joined with Democrats in toppling McCarthy, marking the first time a House leader has been voted out. Two of the Republicans who voted against him are retiring, while three others are facing strong primary challenges. McCarthy is working behind the scenes to ensure their defeat, using his political connections and resources to support their opponents.

McCarthy’s main nemesis in this battle for vengeance is Rep. Matt Gaetz, who was instrumental in McCarthy’s ouster. During a recent appearance at Georgetown University, McCarthy accused Gaetz of pushing him out of the speakership due to an ethics complaint involving a 17-year-old girl. Gaetz denied the allegations and called McCarthy a liar.

Despite the turmoil of his speakership lasting less than nine months, McCarthy feels liberated and focused on campaigns and elections, which have always been his forte. He remains close to lawmakers he recruited and maintains a vast donor network built over years as a top GOP strategist.

McCarthy’s top priority is to secure Republican control of the House in the upcoming elections. He is also focused on reelecting key members, such as Young Kim, Michelle Steel, and Lori Chavez-DeRemer, who have diversified the House GOP.

At a recent seminar on American democracy, McCarthy displayed both charm and self-deprecation. He broke with former President Trump by supporting aid for Ukraine and acknowledging Joe Biden’s victory in the 2020 election. However, McCarthy also dodged questions and made false equivalences, drawing criticism from his detractors.

Despite speculation about a second Trump administration, McCarthy has not shown interest in becoming an influence peddler. Instead, he prefers working in the campaign realm, where his skills and talents are best utilized. McCarthy’s focus is on electing viable Republican candidates and achieving payback against those who pushed him out of power.

In conclusion, Kevin McCarthy is on a mission for vengeance, using his political savvy and resources to take down his opponents and secure Republican victories. His determination and focus on campaigns and elections show that McCarthy is not one to back down easily, making him a force to be reckoned with in the world of politics.

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