From CNBC: 2025-03-31 14:19:00

Newsmax, a conservative cable news network, went public on the NYSE, trading under the symbol “NMAX.” It opened at $14 a share and soared over 500% by midday. The company raised $75 million through the sale of 7.5 million shares. Newsmax is now the No. 4 cable news channel in the US, behind Fox News, MSNBC, and CNN.

Founded in 1998, Newsmax has grown its audience in recent years and is offered through major pay-TV providers. The network’s IPO comes at a time when traditional cable TV is declining as consumers shift to streaming. Newsmax CEO Christopher Ruddy emphasized the network’s conservative but independent news mission, downplaying its pro-Trump leanings.

As its popularity has increased, Newsmax negotiated licensing fees from cable providers. Despite a $40 million settlement with Smartmatic over false election claims, Ruddy maintains the network’s commitment to asking tough questions. Trump called Ruddy to discuss various topics, including Newsmax’s IPO. Ruddy shared his motto, “A rising Trump lifts all boats!”



Read more at CNBC: Newsmax stock starts trading on NYSE