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Newsmax announced this month that it’s planning for an initial public offering later this year or in 2025—a big leap for a media outlet that began more than 25 years ago as a website delivering news on the internet.
Christopher Ruddy, Newsmax’s founder and CEO, spoke with The Daily Signal about his plans for the company and explained how eligible investors are able to take advantage of a private placement offering before the company goes public on the stock market.
“Thousands of people would tell us they wanted to buy shares in Newsmax through the years,” Ruddy said. “And we thought, wouldn’t it be great to have tens of thousands, hundreds of thousands, of co-owners [and] partners with Newsmax that are fighting for us [and] have a stake in our success? And so that was the biggest reason.”
Now more than ever, especially in this election year of 2024, America needs Newsmax, and you can join with us as an investor,” Ruddy said.
After working as a journalist at the New York Post and Pittsburgh Tribune-Review, Ruddy started Newsmax in 1998. In the years that followed, he transformed Newsmax into a broadcasting and multimedia powerhouse reaching more than 40 million people.
Newsmax’s TV channel is the fourth-highest-rated on cable news. And it’s just one of several media properties in addition to its website, Newsmax.com: There’s also a free streaming channel at Newsmax2, a smartphone app, a streaming service called Newsmax+, and Newsmax Magazine.
Now, as he prepares for Newsmax’s initial public offering and eventual listing on Nasdaq or the New York Stock Exchange, Ruddy is seeking to raise $225 million as part of a private offering for accredited investors. More details are available at NewsmaxInvest.com.
Listen to an interview with Ruddy on “The Daily Signal Podcast” to hear his vision for Newsmax, the threats and challenges facing conservative media, and why he’s optimistic about the future.
The post Christopher Ruddy Shares Vision for Newsmax’s Future Ahead of IPO appeared first on The Daily Signal.
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