An investment firm is orchestrating a bid from friends and supporters of President Trump to purchase conservative news network One America News Network (OANN). That’s according to a story in The Wall Street Journal.
It is says that Hicks Equity Partners is trying to pull together financing from other wealthy Republican donors to make a bid for the network for about $250 million.
Hicks Equity is reportedly owned by the family of Thomas Hicks, Jr., a close friend of Donald Trump Jr., and the co-chairman of the Republican National Committee (RNC).
Some say the proposed purchase comes at a time when President Trump and his supporters are increasingly dissatisfied with Fox News and its failure to “toe the party line.”
OANN President Charles Herring says that the network is a reliable news source for a national audience and that interest in the network is on the rise with the 2020 election season in full swing, according to the story.
Potential investors report that their interest in buying the news outlet is centered on the desire to strengthen the conservative voice in media coverage, which traditionally offers mostly liberal coverage.
It is reported that the RNC co-chair, Hicks Jr., is not personally involved in any efforts to buy OANN and resigned his position at his family’s company to avoid any possible conflicts of interest.
Click on the link below to read the full story in wsj.com: