Digital World Acquisition Corp. jumped 44%, and its A-class shares (DWAC) gained 30%, after announcing a plan to merge with Trump Media & Technology Group, which aims to launch a social-media platform backed by former President Donald Trump. The transaction values the Trump media group at an enterprise value of $875 million, the company said. What's called Truth Social is aiming for a beta launch in November, and Trump Media & Technology also is planning to launch "non-woke" entertainment programming, news and podcasts.
(END) Dow Jones Newswires
October 21, 2021 06:23 ET (10:23 GMT)
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