A new agreement that will take the Trump Media & Technology Group public requires Donald Trump to post on its Truth Social network before crossposting to other platforms. Truth Social was created in 2022 following former U.S. President Donald Trump being banned from many mainstream social media platforms. Trump's repeated tweets during the January 6, 2022 insurrection at the U.S. Capitol were viewed as against the public interest by Twitter. This resulted in a permanent ban on his account, prompting him to create his own platform.
Truth Social hasn't become the replacement for mainstream media that the former president hoped it would, but this is in part due to the social network being difficult to use. When people first try to sign up for the platform, they are placed on a waitlist, which deters usage. Truth Social is also only available on iOS at the time of writing, though an Android app and web client are in the works. The main draw of the service is exclusive content from Trump, and that's part of the reason he's agreed to post on Truth Social before the others.
Trump Media & Technology Group is in the process of transitioning to a publicly-held company with the help of Digital World Acquisition Group, according to an SEC filing. The Digital World Acquisition Group is a blank-check company that assists in mergers and reorganization processes, and it has filed an S-4 form detailing the company's public offering. The filing states the Trump Media & Technology Group is entering a royalty-free licensing agreement with Trump that would give the company exclusive rights to use the former president's name, image, and likeness to promote Truth Social and other platforms. In addition, Trump will be required to post on Truth Social before other platforms, and cannot crosspost to other platforms for at least six hours.
Trump's Likely Return To Twitter Will Be Impacted
The agreement requiring Trump to post exclusively on Truth Social before using other platforms came into effect in December 2021 and is valid for 18 months. It also gives the Trump Media & Technology Group the option to create a similar media opportunity for Trump if it presents itself. For example, if a company wanted the former president to start a podcast on its platform, Trump Media & Technology Group would reserve the right to create its own podcast hosting opportunity. The six-hour delay clause does have limitations, though. Any communications that are political in nature, such as get-out-the-vote efforts and fundraising messages, are exceptions to the agreement and can be posted on any network at the same time.
The move complicates a potential return to Twitter for Trump, who would be reinstated should Elon Musk's proposed purchase of the company go through. During a live interview with Financial Times, Musk said he disagrees with the ban of the former president and would reinstate Trump once his Twitter deal goes through. However, Trump has no plans to return to Twitter. The former president has said that he plans to remain solely on Truth Social, and the new SEC documents are further proof that Trump is locked into his own platform, at least for the foreseeable future.
Source: SEC, FT Live/YouTube