The new company will reportedly be based on longer versions of the free videos that Carlson has been posting to Twitter, with subscribers getting access to exclusive material. The two have worked together before and co-founded the Daily Caller news organization.
This comes after Fox News sent Carlson a cease and desist letter for allegedly breaking his contract by posting his own content to Twitter.
According to the Wall Street Journal, the two are looking to raise hundreds of millions of dollars to start the venture. The report says the two have "lined up financiers, lawyers and media strategists to work on the new company" and have been meeting with Twitter to work out the details.
Carlson's recent video content, Tucker on Twitter, has consistently broken tens of millions of views on the social media platform. His latest episode, an interview with Andrew Tate, has garnered over 75 million views.
The first episode came out in early June and has amassed over 120 million views.
Carlson has been engaging with new video content possibilities on the platform consistently. He also hosted the Blaze's Presidential Forum on Friday which streamed live on the platform.
Patel still runs the Daily Caller and was a roommate of Carlson prior to its founding.
The new media company will reportedly have its own website and mobile app. The pair has also been looking to expand content to platforms other than Twitter.
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