Newsmax valuation soars in MAGA media boom
Newsmax, a conservative media company that lost $55 million in the first half of 2024 on revenue of $80 million, was valued at $16.1 billion at market open Tuesday, its second day as a public company.
Context: That’s double the value of the New York Times, which made $106 million in net profit over the same period, on revenue of $1.2 billion.
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