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BOCA RATON - Newsmax Inc. (NYSE:NMAX) appointed David Gandler, Co-Founder and Chief Executive Officer of FuboTV Inc. (NYSE:FUBO), to its Board of Directors, effective Thursday, according to a company press release. According to InvestingPro data, Newsmax maintains a strong financial position with more cash than debt and a healthy current ratio of 3.57x.
Gandler joins five existing board members, including Newsmax CEO Christopher Ruddy, former U.S. Secretary of Labor Alex Acosta, Ambassador Nancy Brinker, Christopher Nixon Cox, and Ambassador Paula J. Dobriansky.
"David’s achievements as an entrepreneur in the streaming and media industries will bring fresh perspective as we continue to expand our global reach, including through our streaming service Newsmax+," Ruddy said in the statement.
Gandler co-founded Fubo in 2015, which went public on the New York Stock Exchange in October 2020. Beyond his role at Fubo, Gandler is majority owner of soccer team Leyton Orient F.C. and serves on the board of Bare-Knuckle Fighting Championship.
"Today’s 24/7 news cycle demands media companies deliver trusted information rapidly and through multiple distribution channels," Gandler stated in the release.
Newsmax operates one of the nation’s leading news outlets with its channel carried on major pay TV providers. According to the company, Newsmax’s media properties reach more than 40 million Americans regularly through various platforms including its TV channel, website, and app. With a market capitalization of $1.56 billion and significant growth potential, investors can access detailed financial analysis and 8 additional key metrics through InvestingPro.
In other recent news, Newsmax Inc. reported a significant increase in revenue for the second quarter, with a total of $46.4 million, marking an 18.4% rise compared to the same period last year. The growth was largely driven by a substantial 28.5% increase in broadcasting revenue, reaching $38 million. Additionally, advertising revenue, a major part of the company’s business, surged by 26.2% to $29.9 million, attributed to higher Nielsen ratings that boosted advertising rates. Despite these gains, Newsmax posted an adjusted loss per share of -$0.59 for the quarter ending June 30, 2025. These recent developments highlight the company’s strong performance in its core broadcasting segment. The earnings announcement was followed by a 1.7% rise in the company’s shares.
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