Tucker Carlson media company signs its first ad deal

Former Fox News host Tucker Carlson's new media company has officially signed its first advertising deal.

The agreement, worth at least $1 million, was reached with conservative-friendly shopping app Public Square, also known as PublicSq., on Friday, according to the app's CEO, Michael Seifert.

Preliminary details of the agreement between Carlson's new media company and PublicSq. were first reported by CNBC in July, just days before PublicSq. went public on the New York Stock Exchange. Carlson's new company is named Last Country, according to The Wall Street Journal.

PublicSq. is the first of likely several other advertisers moving to partner with Carlson at a pivotal time in national politics, as the 2024 presidential election is just over a year away. The PublicSq. ads are set to air on Carlson's show, which runs on the social media platform X, formerly known as Twitter, starting in November and through the final months of next year's campaign, according to Seifert.

"People are going to be paying attention," he said.

The ads will also appear on Carlson's other platforms, including his website, Seifert added.

The app and its leaders have pushed against environmental, social and governance investment policies in business. The product's pitches will be woven into Carlson's show, Seifert said.

"Tucker is going to speak very candidly of the importance of patriotic small businesses and if viewers want to support it, go to Public Square," Seifert said.

Carlson's show has reportedly landed millions of views since launching earlier this year, after his acrimonious departure from Fox News. The show has featured interviews with several prominent conservative voices, including former President Donald Trump and 2024 Republican primary candidate Vivek Ramaswamy.

Carlson's departure from Fox News came after the network's parent company settled Dominion Voting Systems' defamation lawsuit for $787.5 million. The host figured prominently in the public battle over the suit.

Since it went public, PublicSq. has brought on Republican-friendly board members, including Nick Ayers, who was chief of staff to then-Vice President Mike Pence. Former U.S. Sen. Kelly Loeffler, R-Ga., was recently appointed to PublicSq.'s board of directors.

Longtime Carlson business partner Neil Patel, who also has an executive role at the host's company, told CNBC in a statement that he sees the PublicSq. app acting as a counterweight to the U.S. Chamber of Commerce, the business-lobbying giant, and e-commerce behemoth Amazon. Republican leaders have ripped the usually GOP-friendly Chamber since the organization backed some Democrats running for House seats.

"PublicSq. is a key company in the parallel economy, specifically countering the Chamber of Commerce and Amazon," Patel said. "There is a wave of disruption coming to the media and economic establishment, and our companies will help accelerate this overdue shift."

Earlier this month, the company previewed its third-quarter financial results, saying revenue rose 300% from the second quarter. PublicSq. said its EveryLife business, which it describes as a "direct-to-consumer pro-life baby care brand," led the growth. The company aims to unveil its "e-commerce shopping experience" Nov. 1, with the expectation that the app will have 400,000 products to shop. PublicSq. is scheduled to report earnings Nov. 14.

The company's stock is trading around at over $5 after reaching as high as $35.57 immediately after its debut in July. The deal that allowed PublicSq. to go public was through a merger with Colombier Acquisition Corp., a special purpose acquisition company.

The CEO of Colombier Acquisition, Omeed Malik, is an eight-figure investor into Carlson's new company through his separate firm, 1789 Capital, CNBC reported in July. Malik is also a member of PublicSq.'s board of directors.