{"id":545032,"date":"2026-04-22T17:45:29","date_gmt":"2026-04-22T17:45:29","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/545032\/"},"modified":"2026-04-22T17:45:29","modified_gmt":"2026-04-22T17:45:29","slug":"devin-nunes-steps-down-as-head-of-trumps-struggling-media-company","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/545032\/","title":{"rendered":"Devin Nunes steps down as head of Trump\u2019s struggling media company"},"content":{"rendered":"

\n The company behind President Donald Trump\u2019s social media network is changing leaders amid mounting financial losses, a sagging stock price and lingering uncertainty about the long-term viability<\/a> of its flagship product, Truth Social.\n <\/p>\n

\n Devin Nunes, a former California member of Congress and longtime Trump loyalist, is exiting his position as chief executive officer of Trump Media & Technology Group Corp., he and the company announced Tuesday<\/a>. Kevin McGurn, a former executive at Hulu and Vevo, will step in as interim CEO.\n <\/p>\n

\n \u201cI want to thank Devin Nunes for his dedicated service to the Company over the past four years, and congratulate Kevin McGurn on his appointment as Interim CEO,\u201d Donald Trump Jr. said in a statement on behalf of the board of directors. \u201cKevin brings deep experience across media, technology, and capital markets, as well as a strong understanding of Trump Media\u2019s operations and strategic priorities. His familiarity with the Company and alignment with our leadership team uniquely position him to guide Trump Media through this important period.\u201d\n <\/p>\n

\n Nunes\u2019 four-year stint included the launch of Truth Social<\/a> in 2022 \u2014 after social media sites banned Trump from their platforms due to his efforts to hold onto power in 2021. The fledgling app closely resembles Twitter, the site that helped launch Trump\u2019s political career, and it soon became the vessel for his latest musings, broadsides, endorsements and announcements about his political comeback.\n <\/p>\n

\n Nunes also oversaw Trump Media & Technology Group Corp.\u2019s transition to a public company<\/a> in 2024, a move that put Trump\u2019s initials alongside some of the most iconic brands and corporations in the world.\n <\/p>\n

\n After going public, the price of the stock quickly soared over $60, boosting the on-paper wealth of Trump, the company\u2019s largest shareholder. But DJT, as it trades on the stock exchange, has since fallen back to earth. As of Wednesday morning, it was trading for about $9.70.\n <\/p>\n

\n The site has failed to gain a broader user base outside of Trump\u2019s hardcore followers and media types tracking his thoughts and moves. The company reported<\/a> just $3.7 million in revenue last year and a net loss of $712 million.\n <\/p>\n

\n \u201cTMTG expects to incur operating losses for the foreseeable future,\u201d the company wrote in its most recent annual report to shareholders. \u201cIf Truth Social or Truth+ fails to develop and maintain followers or a sufficient audience, or if adverse trends develop for social media platforms or streaming services generally, TMTG\u2019s business would be adversely affected.\u201d\n <\/p>\n

\n Nunes said on Truth Social<\/a> that stepping down as CEO will \u201callow me to focus more intently on my role as Chairman of the President\u2019s Intelligence Advisory Board.\u201d\n <\/p>\n

\n \u201cI remain fully committed to our common cause of free speech on the Internet, which is now and will always be fiercely protected by Truth Social,\u201d he wrote.\n <\/p>\n","protected":false},"excerpt":{"rendered":"The company behind President Donald Trump\u2019s social media network is changing leaders amid mounting financial losses, a sagging…\n","protected":false},"author":2,"featured_media":545033,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[84,59,56,54,55],"class_list":{"0":"post-545032","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-gb","10":"tag-uk","11":"tag-united-kingdom","12":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/545032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=545032"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/545032\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/545033"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=545032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=545032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=545032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}