According to reports, The Daily Wire is in talks with investment firms about a deal that could value the company at around $1 billion. The company is also exploring a future IPO that could potentially value the business at as much as $2 billion.
Founded by Shapiro in 2015, The Daily Wire has become one of the largest conservative media companies in America. The company generates most of its revenue from paid subscriptions and has built a massive audience through podcasts, news coverage, documentaries and entertainment content.
Despite facing challenges in recent years, including declining subscriptions and lower advertising revenue, the company remains profitable. The Daily Wire reported roughly $48 million in adjusted earnings last year.
The company is now investing heavily in news coverage, investigative journalism, business reporting, sports, health and opinion content as it looks to expand beyond politics and attract a broader audience.
Shapiro, one of the most influential conservative commentators in the United States, has also increased his ownership stake in the company as part of the effort to position Daily Wire for long-term growth.
If successful, the investment round would provide The Daily Wire with significant new resources as it seeks to compete with some of the largest media companies in the country.