Versant Media shares fall after Trump bans MSNOW from White House

Investing.com -- Versant Media Group shares fell nearly 5% late in Friday's trading session after President Donald Trump announced he was banning MSNOW network, owned by the company, from the White House.

Trump made the announcement in a post on Truth Social on Friday, stating the ban was effective immediately. The ban also includes CNN and Politico.

"I am proud to announce that, effective immediately, I am banning Fake News CNN, MSNOW (who recently changed their name from MSNBC due to lack of viewership and credibility!), and Politico (The recipients of an illegal and ridiculous $8 Million Dollar subscription, an All Time Record, directly from the United States Government, under Crooked Joe Biden, in order to keep them 'alive.' Seems like corruption to me!), from the White House as a result of their constant 'reporting' FAKE NEWS!" Trump wrote.

The president said media outlets should not be able to write or report what he called fiction and lies when covering the president, the Trump administration, or the United States. Trump added that other news media outlets would follow.

Trump has regularly criticized mainstream media networks and coined the term "fake news."

You May Also Be Interested In

• Paramount Weighs Tapping Musk For Equity Investment - Semafor
• Raymond James says CN, CPKC stock traffic beats 3Q estimates
• Crude Inventory Rose 2.97 Million Barrels Last Week - EIA