(Bloomberg) -- Former President Donald Trump on Wednesday announced a deal that would enable him to regain a social media presence after he was kicked off Twitter Inc. and Facebook Inc. platforms.
The former president’s new enterprise will be in operation by the first quarter of 2022, according to a press release from the Trump Media and Technology Group. It says it plans to start a social media company called Truth Social. The moves, if all goes according to plan, would occur well ahead of the 2022 mid-term elections.
The release added that the company will be publicly traded through a merger with another firm called Digital World Acquisition Corp.
Trump, who has teased that he may run again in 2024 without making a formal announcement, has been banned by major social-media companies for his role in stoking the mob that attacked the U.S. Capitol on Jan. 6.
Twitter has barred Trump permanently, and Facebook announced earlier this year that he will remain suspended from its networks for at least two years and would be reinstated in 2023 only if the risk to public safety has subsided.
Trump has been looking to recapture the ability to connect with supporters, raise money and drive news coverage that he lost with his access to social-media platforms, especially Twitter. During his presidency, Trump relied on Twitter for everything from insulting rivals to major policy announcements.
Without social media, Trump had been relegated to issuing press releases -- which he often did multiple times a day in a format similar to his tweets -- holding campaign-style rallies and giving interviews to friendly media outlets.
Those that have already raised money through are still racing to spend the almost $200 billion they’ve raised since the middle of last year.
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