New York, June 11, 2026, 15:07 EDT
- Trump Media, TAE Technologies and Texas Ventures Acquisition III dropped plans to spin off Truth Social and other media businesses as a separate public company.
- Trump Media and TAE are sticking to their plan to wrap up their earlier announced merger in the fourth quarter of 2026 or earlier.
- Trump Media (DJT) was at $8.03 Thursday afternoon, putting its market cap near $2.22 billion.
Trump Media & Technology Group and TAE Technologies are scrapping their talks to spin off Truth Social into a separate public company. That ends a plan where Trump Media would merge with TAE, a nuclear fusion firm, while spinning out Truth Social. Both firms said Wednesday the spin-off talks, which included Texas Ventures Acquisition III, are over after a review.
Trump Media will keep Truth Social, Truth+, Truth.Fi and other assets instead of spinning them off, sticking with its social media and streaming businesses as it looks to shift into fusion energy this year. The companies didn’t say why they dropped the spin-off plan, according to Reuters.
Trump Media and TAE are still looking to finish their merger soon, sticking to their plan to close in the fourth quarter of 2026 or earlier. The latest statement puts the focus back on the companies’ ability to get the deal done, file needed paperwork and get all the shareholder and regulatory sign-offs.
The original plans for a spin-off, first made public in February, would have put some Trump Media assets like Truth Social into a newly listed company to merge with Texas Ventures Acquisition III after the TAE merger. That plan is shelved. The companies said in a June 10 update the merged board will now look at strategic options for the legacy businesses after closing.
For shareholders, exposure to Truth Social stays linked to the full Trump Media story, not spun off into a different listed entity. Simply Wall St said keeping Truth Social under the same roof affects how those media assets could be managed and valued by the merged company, and it gives management more flexibility after the deal.
Trump Media and TAE announced an all-stock merger in December, valuing the deal at over $6 billion. As laid out, shareholders from both Trump Media and TAE would split roughly 50% of the combined firm each, fully diluted. The merged entity would serve as the holding company for Truth Social, Truth+, Truth.Fi, as well as TAE, TAE Power Solutions, and TAE Life Sciences.
TAE Technologies out of California is working on fusion power and has pulled in over $1 billion from backers like Google and Chevron, Reuters said. The planned merger would offer public investors a way into a fusion business, as power demand from AI data centers fuels more focus on energy tech.
Trump Media reported $2.2 billion in total assets and about $2.1 billion in financial assets for the first quarter, according to its May filing. Revenue was $0.9 million, with a net loss of $405.9 million. The company now has financial resources, but turning those into monetized media business remains a challenge.
DJT is still under pressure even as the merger plan moves ahead. The stock dropped over 38% this year, Reuters reported Wednesday, then edged lower in premarket after the latest on the spin-off. On Thursday afternoon, shares traded near $8.03, up 24 cents for the day. Volume came in around 2.6 million shares.
Investors are watching for the next big step: the merger filing. Trump Media said it plans to file a Form S-4 with the SEC, covering a proxy and prospectus for Trump Media holders and a consent solicitation for TAE stock owners. But until those papers are in, there’s little info out about the new company’s pro forma finances, governance or risk statements.
