NEW YORK — Trump Media & Technology Group said it has abandoned plans to spin off its Truth Social platform into a separate publicly traded company.
The company, along with TAE Technologies and Texas Ventures III, disclosed the decision on Wednesday after further evaluation, according to a joint statement. No reason was provided for dropping the spin-off plan, which had been under discussion since February.
Trump Media, the parent of the social media platform popular with former and current President Donald Trump, remains focused on completing its merger with TAE Technologies, a nuclear fusion company. The parties aim to close the roughly $6 billion all-stock deal in the fourth quarter of 2026 or sooner.
The potential spin-off, announced earlier this year, had envisioned separating Truth Social and certain other Trump Media assets into a new entity that would merge with the special-purpose acquisition company Texas Ventures III. Shares in the spun-off company would have been distributed to existing shareholders following the TAE merger, the companies had said at the time.
"After further evaluation, the parties have determined not to continue pursuing the spinoff at this time," the update stated, according to reports on the filing.
Trump Media & Technology Group, which trades on Nasdaq under the ticker DJT, has faced ongoing financial challenges. In its first-quarter 2026 results, the company reported significant losses amid efforts to expand its business beyond the social media platform.
The decision comes as Trump Media shifts emphasis toward the fusion energy merger. TAE Technologies develops fusion power technology, which the companies have described as positioning the combined entity as one of the first publicly traded fusion companies.
Details on the impact to shareholders or the company's broader strategy following the cancellation of the spin-off remain unclear. Trump Media did not immediately respond to requests for additional comment.
The move marks a reversal from earlier plans that had signaled efforts to unlock value from Truth Social as a standalone business. The platform, launched in 2022, has served as a key outlet for Trump's communications.
As of Wednesday's announcement, shares of Trump Media reacted to the news, though specific trading details were not immediately available in initial reports. The company has been navigating regulatory and market scrutiny since going public through a SPAC merger in 2024.
Trump Media and TAE Technologies said they continue to work toward finalizing the merger transaction. No further timeline adjustments were announced.
