Live updates: Trump pivots back to sanctions for Iran as other strategies to end his war fizzle

The president’s media company has tried its hand at a half-dozen new lines of business to lift its stock, but nothing has worked. Now it’s getting back to its roots.

In a conference call with investors Monday, the company behind Truth Social said it will be unwinding much of its expansion and doubling down on its original media business by selling a form of White House access, a move that has raised big ethical questions among Democrats and government watchdogs.

Trump started Truth Social after he was kicked off Twitter and Facebook, but the two reinstated him more than three years ago, so the company has had to transform itself. Instead of a “free speech” forum, it now acts more like a “hear it here first” site, a second White House press office where people get scoops from the president on everything from the Iran war to tariffs to the future of the U.S. central bank.

But shares of the parent company, Trump Media & Technology, kept falling so it decided to become more than a media company and branched into unrelated industries like online betting, finance, investment funds, buying and storing bitcoin and nuclear energy.

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