Former Fox News host Tucker Carlson and former White House adviser Neil Patel are reportedly raising funds to start a new media company anchored on Twitter. According to the Wall Street Journal, the duo is seeking to raise hundreds of millions of dollars to fund the company, which will be anchored by longer versions of the free videos Carlson has been posting regularly on Elon Musk's Twitter since his departure from Fox News.
Carlson and Fox News agreed to part ways in April after its parent company Fox Corp settled a lawsuit that claimed the news network defamed Dominion Voting Systems by airing false election-rigging claims. Carlson had played a starring role in the lawsuit. Since then, Carlson has been posting regular videos on Elon Musk's Twitter account, which have garnered millions of views.
In June, Carlson launched his own Twitter show, "Tucker on Twitter," and Fox News retaliated by notifying his legal team, saying that the former prime-time host violated his contract with the network. This move has prompted Carlson to raise funds to start his own media company.
According to the Wall Street Journal, the new media company will be driven by subscriptions, and Carlson will anchor the company with longer versions of his free videos. The videos will be posted on Twitter, and the company will also have its own platform.
The company will be funded by a group of wealthy conservative media investors, the names of whom have not been disclosed. Carlson and Patel are reportedly seeking to raise hundreds of millions of dollars to launch the company.
Carlson is reportedly bringing along with him the eight remaining staffers who used to work for his Fox News show. These senior leadership positions will be a significant addition to the new company, and may help to attract other talent.
If Carlson ends up launching a new media company, it would not be his first time at the helm of such a project. In 2010, Carlson and Patel co-founded The Daily Caller, a conservative news site meant to rival publications like The Huffington Post. Carlson sold his stake in The Daily Caller in 2020.
According to Axios, Fox News has threatened legal action against Carlson, saying he has a non-compete clause until after the 2024 election. Carlson's legal team has argued that any legal action by Fox would be a direct violation of their client's First Amendment rights.
Fox News has also accused Carlson of violating his contract by launching his own Twitter show. Carlson, on the other hand, has accused Fox executives of hypocrisy, pointing to how the company claims to "defend its very existence on freedom of speech grounds."