The Daily Wire, one of the biggest players in conservative media, is in talks to take on at least $100 million in investment, with an eye on an initial public offering in a few years’ time.
The company, which was founded by conservative podcaster Ben Shapiro in 2015, has been in talks with Highmount Capital to lead a funding round that would value the company at $750 million, according to documents reviewed by Semafor.
The Daily Wire, which is trying to take on the New York Times from the right, privately disclosed that it notched $48 million in adjusted EBITDA last year. But it’s also failed to grow its subscriber base — and to keep the ones it has paying, the documents show.
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