Media
As Trump Recovers, He Retreats to a Conservative Media Safe Space – The New York Times
When President Trump picked someone to conduct his first on-camera interview since testing positive for the coronavirus, he made the safest of choices: Dr. Marc Siegel, a physician and Fox News personality who has criticized Democratic governors for closing down schools and businesses to fight the pandemic and declared that Dr. Anthony S. Fauci, the nation’s leading infectious disease expert, is “there to serve the president.”
Dr. Siegel did not disappoint. In an interview that aired on Friday’s “Tucker Carlson Tonight,” he asked about the president’s symptoms (“I didn’t have a problem breathing,” Mr. Trump said). And he did not object when the president said the Secret Service agents who escorted him on a photo op limousine ride at the Walter Reed medical center “thought it was very important” that the commander in chief acknowledge his fans.
Then Dr. Siegel offered a friendly suggestion for how Mr. Trump might get creative for his next meeting with his Democratic rival, Joseph R. Biden Jr. “How would you feel about a debate outside on Miami Beach?” the doctor said.
At the most politically and physically vulnerable point of his presidency, Mr. Trump has retreated to his safe space: conservative media programs, where he can rely on warm, ego-boosting chats with supporters like Maria Bartiromo, Sean Hannity, Rush Limbaugh and Mark Levin.
In these cozy surroundings — his primary way of communicating with the public as he shuns interviews with most other journalists — Mr. Trump has only himself to fear: There is virtually no risk that he will encounter a persistent questioner pressing an uncomfortable topic, or that he will appear as defensive or unruly as he did during the first presidential debate.
But his decision to remain within a right-wing echo chamber has threatened to shut off Mr. Trump from a much larger — and electorally important — audience of potential voters and political independents whose votes he will need if he is to win the election in just over three weeks.
The president’s refusal to participate in the now-canceled second presidential debate because organizers shifted it to an all-virtual event amounted to walking away from a TV viewership of close to 70 million viewers, baffling political media experts. And while Mr. Limbaugh and Mr. Hannity command the biggest audiences in their respective fields, their programs have nowhere near the reach of a debate that airs on a dozen broadcast and cable networks simultaneously.
“Trump should want 10 more debates right now,” Alex Conant, a Republican consultant who has overseen communications strategy on Senate and presidential campaigns, said in an interview.
With Mr. Trump trailing in almost every poll of battleground states, Mr. Conant said, the president’s demands that the debate be held on his terms “was very much an emotional response, instead of a strategic one.”
Mr. Conant noted how successful Mr. Trump was in 2016 by effectively flooding broadcast, print and online news media with his attacks on Hillary Clinton, and in his use of that year’s debates to rebound from the disclosure that he had once boasted on “Access Hollywood” that he could grab women’s genitals with impunity.
“That proved to be an effective strategy for him, because he could go on any media outlet in the country and say Hillary Clinton is a crook,” Mr. Conant said. Now, “because he doesn’t have as consistent a message on Joe Biden or a record to defend, he has been unable to do that.”
Mr. Trump’s approach to campaign media mirrors his electoral strategy, focusing primarily on one bloc of voters: his base.
His two-hour session on Friday with Mr. Limbaugh began with the host playing Lee Greenwood’s “God Bless the U.S.A.” — a staple at Trump campaign rallies — and tape of people chanting, “We love you! We love you!”
Mr. Limbaugh billed the interview as “the largest virtual rally in radio history.” But the appearance ultimately proved more of a hybrid — part pep talk, as Mr. Limbaugh repeatedly tried to reassure his audience (and his guest) that Mr. Trump was the best man for the White House, and part venting session, as the president recited a host of familiar grievances.
Mr. Trump rattled off a long list of people he said had undermined him, including Mr. Biden, Mrs. Clinton and the former F.B.I. director James Comey. He complained about not being recognized for a Nobel Peace Prize nomination, a slight he pinned on the mainstream media. “They don’t cover any good stuff with me,” he grumbled.
It was a marathon appearance that, at best, might have attracted roughly 10 to 15 million listeners, according to Michael Harrison, the publisher of the talk-radio trade magazine Talkers — big by radio standards, but still a fraction of the television audience that watches presidential debates.
His 8 a.m. appearance on Thursday on Ms. Bartiromo’s Fox Business show — which the White House arranged only the night before — drew about 376,000 viewers, according to Nielsen.
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In cherry-picking platforms where he is shielded from uncomfortable questions, Mr. Trump may fall into a political trap of his own making.
The uncertainty over his health — he and his doctors have refused to disclose details about how sick he is with the coronavirus — can seem more glaring when even a Trump confidant like Mr. Hannity cannot glean a straight answer from him. On Thursday, Mr. Hannity twice asked the president if he had in recent days tested negative for the virus; Mr. Trump ignored the question both times. “I know when I’m in good shape or not,” the president said.
Five million people watched the “Hannity” interview, repeatedly hearing the president pause to cough and clear his throat.
And while right-wing hosts often try to steer Mr. Trump toward friendly topics, the president can sometimes miss his cues.
This happened several times during his appearance with Mr. Limbaugh, whom Mr. Trump awarded the Presidential Medal of Freedom this year. The host asked the president to refute claims from Mr. Biden that he would take away health insurance from Americans with pre-existing medical conditions.
Mr. Trump responded by calling his opponents liars and then proceeded to bring up one of the most damaging stories of his presidency: an article in The Atlantic — which he has strongly denied — that quoted unnamed sources saying they heard the president call Americans who were killed in combat “losers.”
Mr. Limbaugh let this digression go on for a while before interrupting. “But there’s still this confusion about pre-existing conditions out there,” he said, urging the president back on track.
In his time in the White House, Mr. Trump has granted more than 100 interviews to Fox News programs, and only a handful to other major networks, according to a tally by Mark Knoller, a CBS correspondent and statistician of the White House press corps.
And while the White House is in discussions with NBC News about a possible televised town hall-style event on Thursday with the president, that appearance may prove to be an exception. In the works is another town hall to be hosted by Eric Bolling of Sinclair News, the right-leaning broadcaster that oversees local news stations in major markets across the country. Mr. Bolling said on Friday that the event is still on for Oct. 19 in Pennsylvania.
“I’ve been in regular contact with the campaign and the White House. Both have assured me it will happen,” Mr. Bolling said.
In his case, Mr. Bolling said the president would expand his audience because Sinclair programs air on mainstream stations across the country — albeit with an interviewer the president knows and is comfortable with. “I think it’s an important show of strength to undecided voters just days from the election,” Mr. Bolling said of the president’s participation.
As Mr. Trump begins to appear in less controlled media environments, he is taking the risk that his illness won’t get the better of him.
The interview with Dr. Siegel on Fox News, his first on camera since he became ill but still not a live broadcast, was intended to show his progression. But there were subtle reminders of the disease that has infected Mr. Trump and many in the White House.
Fox News did not send a camera crew to the White House because of the health risks. Instead, Dr. Siegel asked his questions from a studio in New York while Mr. Trump sat in front of a remote-controlled camera. The appearance was taped during the afternoon and edited before the 8 p.m. broadcast.
Dr. Siegel practices internal medicine at N.Y.U. Langone Health in Manhattan. But the medical institution took a step to distance itself from the doctor’s televised effort to evaluate Mr. Trump from afar.
“In his role as senior medical correspondent for Fox News, Dr. Siegel expresses his own personal opinions,” a Langone spokesman said on Friday. “His comments do not reflect the opinion of N.Y.U. Langone Health.”
Former President Donald Trump is on the brink of a significant financial decision that could have far-reaching implications for both his personal wealth and the future of his fledgling social media company, Trump Media & Technology Group (TMTG). As the lockup period on his shares in TMTG, which owns Truth Social, nears its end, Trump could soon be free to sell his substantial stake in the company. However, the potential payday, which makes up a large portion of his net worth, comes with considerable risks for Trump and his supporters.
Trump’s stake in TMTG comprises nearly 59% of the company, amounting to 114,750,000 shares. As of now, this holding is valued at approximately $2.6 billion. These shares are currently under a lockup agreement, a common feature of initial public offerings (IPOs), designed to prevent company insiders from immediately selling their shares and potentially destabilizing the stock. The lockup, which began after TMTG’s merger with a special purpose acquisition company (SPAC), is set to expire on September 25, though it could end earlier if certain conditions are met.
Should Trump decide to sell his shares after the lockup expires, the market could respond in unpredictable ways. The sale of a substantial number of shares by a major stakeholder like Trump could flood the market, potentially driving down the stock price. Daniel Bradley, a finance professor at the University of South Florida, suggests that the market might react negatively to such a large sale, particularly if there aren’t enough buyers to absorb the supply. This could lead to a sharp decline in the stock’s value, impacting both Trump’s personal wealth and the company’s market standing.
Moreover, Trump’s involvement in Truth Social has been a key driver of investor interest. The platform, marketed as a free speech alternative to mainstream social media, has attracted a loyal user base largely due to Trump’s presence. If Trump were to sell his stake, it might signal a lack of confidence in the company, potentially shaking investor confidence and further depressing the stock price.
Trump’s decision is also influenced by his ongoing legal battles, which have already cost him over $100 million in legal fees. Selling his shares could provide a significant financial boost, helping him cover these mounting expenses. However, this move could also have political ramifications, especially as he continues his bid for the Republican nomination in the 2024 presidential race.
Trump Media’s success is closely tied to Trump’s political fortunes. The company’s stock has shown volatility in response to developments in the presidential race, with Trump’s chances of winning having a direct impact on the stock’s value. If Trump sells his stake, it could be interpreted as a lack of confidence in his own political future, potentially undermining both his campaign and the company’s prospects.
Truth Social, the flagship product of TMTG, has faced challenges in generating traffic and advertising revenue, especially compared to established social media giants like X (formerly Twitter) and Facebook. Despite this, the company’s valuation has remained high, fueled by investor speculation on Trump’s political future. If Trump remains in the race and manages to secure the presidency, the value of his shares could increase. Conversely, any missteps on the campaign trail could have the opposite effect, further destabilizing the stock.
As the lockup period comes to an end, Trump faces a critical decision that could shape the future of both his personal finances and Truth Social. Whether he chooses to hold onto his shares or cash out, the outcome will likely have significant consequences for the company, its investors, and Trump’s political aspirations.
Cochise County, AZ — Law enforcement officials in Arizona have apprehended Ronald Lee Syvrud, a 66-year-old resident of Cochise County, after a manhunt was launched following alleged death threats he made against former President Donald Trump. The threats reportedly surfaced in social media posts over the past two weeks, as Trump visited the US-Mexico border in Cochise County on Thursday.
Syvrud, who hails from Benson, Arizona, located about 50 miles southeast of Tucson, was captured by the Cochise County Sheriff’s Office on Thursday afternoon. The Sheriff’s Office confirmed his arrest, stating, “This subject has been taken into custody without incident.”
In addition to the alleged threats against Trump, Syvrud is wanted for multiple offences, including failure to register as a sex offender. He also faces several warrants in both Wisconsin and Arizona, including charges for driving under the influence and a felony hit-and-run.
The timing of the arrest coincided with Trump’s visit to Cochise County, where he toured the US-Mexico border. During his visit, Trump addressed the ongoing border issues and criticized his political rival, Democratic presidential nominee Kamala Harris, for what he described as lax immigration policies. When asked by reporters about the ongoing manhunt for Syvrud, Trump responded, “No, I have not heard that, but I am not that surprised and the reason is because I want to do things that are very bad for the bad guys.”
This incident marks the latest in a series of threats against political figures during the current election cycle. Just earlier this month, a 66-year-old Virginia man was arrested on suspicion of making death threats against Vice President Kamala Harris and other public officials.
Media
Trump Media & Technology Group Faces Declining Stock Amid Financial Struggles and Increased Competition
Trump Media & Technology Group’s stock has taken a significant hit, dropping more than 11% this week following a disappointing earnings report and the return of former U.S. President Donald Trump to the rival social media platform X, formerly known as Twitter. This decline is part of a broader downward trend for the parent company of Truth Social, with the stock plummeting nearly 43% since mid-July. Despite the sharp decline, some investors remain unfazed, expressing continued optimism for the company’s financial future or standing by their investment as a show of political support for Trump.
One such investor, Todd Schlanger, an interior designer from West Palm Beach, explained his commitment to the stock, stating, “I’m a Republican, so I supported him. When I found out about the stock, I got involved because I support the company and believe in free speech.” Schlanger, who owns around 1,000 shares, is a regular user of Truth Social and is excited about the company’s future, particularly its plans to expand its streaming services. He believes Truth Social has the potential to be as strong as Facebook or X, despite the stock’s recent struggles.
However, Truth Social’s stock performance is deeply tied to Trump’s political influence and the company’s ability to generate sustainable revenue, which has proven challenging. An earnings report released last Friday showed the company lost over $16 million in the three-month period ending in June. Revenue dropped by 30%, down to approximately $836,000 compared to $1.2 million during the same period last year.
In response to the earnings report, Truth Social CEO Devin Nunes emphasized the company’s strong cash position, highlighting $344 million in cash reserves and no debt. He also reiterated the company’s commitment to free speech, stating, “From the beginning, it was our intention to make Truth Social an impenetrable beachhead of free speech, and by taking extraordinary steps to minimize our reliance on Big Tech, that is exactly what we are doing.”
Despite these assurances, investors reacted negatively to the quarterly report, leading to a steep drop in stock price. The situation was further complicated by Trump’s return to X, where he posted for the first time in a year. Trump’s exclusivity agreement with Trump Media & Technology Group mandates that he posts personal content first on Truth Social. However, he is allowed to make politically related posts on other social media platforms, which he did earlier this week, potentially drawing users away from Truth Social.
For investors like Teri Lynn Roberson, who purchased shares near the company’s peak after it went public in March, the decline in stock value has been disheartening. However, Roberson remains unbothered by the poor performance, saying her investment was more about supporting Trump than making money. “I’m way at a loss, but I am OK with that. I am just watching it for fun,” Roberson said, adding that she sees Trump’s return to X as a positive move that could expand his reach beyond Truth Social’s “echo chamber.”
The stock’s performance holds significant financial implications for Trump himself, as he owns a 65% stake in Trump Media & Technology Group. According to Fortune, this stake represents a substantial portion of his net worth, which could be vulnerable if the company continues to struggle financially.
Analysts have described Truth Social as a “meme stock,” similar to companies like GameStop and AMC that saw their stock prices driven by ideological investments rather than business fundamentals. Tyler Richey, an analyst at Sevens Report Research, noted that the stock has ebbed and flowed based on sentiment toward Trump. He pointed out that the recent decline coincided with the rise of U.S. Vice President Kamala Harris as the Democratic presidential nominee, which may have dampened perceptions of Trump’s 2024 election prospects.
Jay Ritter, a finance professor at the University of Florida, offered a grim long-term outlook for Truth Social, suggesting that the stock would likely remain volatile, but with an overall downward trend. “What’s lacking for the true believer in the company story is, ‘OK, where is the business strategy that will be generating revenue?'” Ritter said, highlighting the company’s struggle to produce a sustainable business model.
Still, for some investors, like Michael Rogers, a masonry company owner in North Carolina, their support for Trump Media & Technology Group is unwavering. Rogers, who owns over 10,000 shares, said he invested in the company both as a show of support for Trump and because of his belief in the company’s financial future. Despite concerns about the company’s revenue challenges, Rogers expressed confidence in the business, stating, “I’m in it for the long haul.”
Not all investors are as confident. Mitchell Standley, who made a significant return on his investment earlier this year by capitalizing on the hype surrounding Trump Media’s planned merger with Digital World Acquisition Corporation, has since moved on. “It was basically just a pump and dump,” Standley told ABC News. “I knew that once they merged, all of his supporters were going to dump a bunch of money into it and buy it up.” Now, Standley is staying away from the company, citing the lack of business fundamentals as the reason for his exit.
Truth Social’s future remains uncertain as it continues to struggle with financial losses and faces stiff competition from established social media platforms. While its user base and investor sentiment are bolstered by Trump’s political following, the company’s long-term viability will depend on its ability to create a sustainable revenue stream and maintain relevance in a crowded digital landscape.
As the company seeks to stabilize, the question remains whether its appeal to Trump’s supporters can translate into financial success or whether it will remain a volatile stock driven more by ideology than business fundamentals.
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