“Trump is really aiming to take down Fox”

Trump now is on the verge of having that alternative. According to sources, an investor group aligned with his son Don Jr. and the Dallas-based Hicks family has acquired a major stake in One America News Network, the fledgling conservative cable-news channel that features hosts like Jack Posobiec, a chief promoter of the Pizzagate conspiracy. “[RNC co-chair] Tommy Hicks and Don Jr. have been looking to buy a station for Trump TV,” said one source briefed on the talks. “This is all about building a Fox competitor. Trump is really aiming to take down Fox,” the person briefed on the deal told me. (A person close to Hicks said he resigned his position from the family business when he joined the RNC and isn’t involved in the OANN deal)…

Sources said the deal has been dragging on for months, and hasn’t yet closed. In January the Wall Street Journal reported that Hicks Equity Partners was in talks to invest $250 million to acquire OANN from parent company Herring Networks Inc. Sources told me OANN president Charles Herring was asking $300 million for the channel, a price the Trump group felt was too high (one source said the final price was around $200 million). It’s unclear whether Don Jr. invested Trump family funds in the deal or was given equity. The infusion of cash will allow OANN to improve production values and expand its modest distribution of 35 million homes (Fox News is available in more than 90 million homes).