NEWSMAX shares start trading on NYSE

NewsMax A year was made on the New York Stock Exchange on Monday, when the conservative news network fans grew after President Donald Trump and other right -wing politicians.

The network started trading under the “NMAX” icon late Monday morning, and opened at $ 14 per share after pricing at $ 10 per share. More than 500 % increased by midday in volatile trading.

In September, NewsMax Declare Its plans for a preliminary general offer in early 2025. On Friday, the company He said It raised 75 million dollars by selling 7.5 million shares of regular category B at a price of $ 10 per share.

The Pure-Play Network in the United States is rare, as Dealogic data shows that there has been nothing to compare about newsmax in recent decades. The public subscription comes in newsmax at a time when the traditional cable TV has suffered, as consumers fled the package in favor of broadcasting. Now, news and live sports are the largest audience and most revenue dollars.

The appearance comes for the first time at a time when the public grew into the content of the right peak times with the emergence of Trump and other right -wing politicians in the last elections.

The company, the company’s founder and CEO of the company, said on Monday on the CNBC “SQUAWK box” that he had seen an opportunity to join the mix since then Fox CorpFox News did not have a competitor in the “right market”.

“I think there is a request for more competition against Fox,” Rudi said on Monday. Rudd Be established NewsMax in 1998 as digital offers before the cable TV network became in 2014.

While Fox News dominates the news scene, CNN and MSNBC, newsmax has grown in recent years and is presented by most paid TV service providers.

Rudi said on Monday that newsmax is “Capital News Channel 4 in the United States, behind CNN directly.” Nielsen confirmed on Monday that the news is “constantly” in fourth place behind Fox News, MSNBC and CNN.

In general, newsmax ranked first among the average viewers of the cable network in both peak and daytime time, Nelsen said on Monday.

“I think it’s a major achievement of a 10 -year -old cable,” said Rudi on Monday.

With its popularity, newsmax negotiates with receiving licensing fees from cable TV providers. On her early days, newsmax relied on advertising revenues. In 2023, that solution Conflict with Directv – which led to its drop from a paid TV provider for a short time – after pressing fees receiving fees.

With the company’s advancement to the public, Rudi reduced the pro-bouquets of the NEWSMAX tendencies-which reached a settlement of 40 million dollars last year with SmartMatic for the wrong allegations of the network that the voting industry helped to manipulate the 2020 presidential elections in favor of former President Joe Biden.

“We believe that we are conservative on an independent news mission, and we are asking difficult questions about the Trump administration,” said Rudi on Monday.

in mail On the social media platform X on Tuesday, Rudi said he had received a call from Trump and that the conversation touched on various topics, including the company’s next public subscription. Rudi wrote: “I have shared with Potus my new say:” Trump rising all the boats! “