Snapshot · Candace
The Daily Wire spent $50 million on just 7 episodes of Pendragon, Jeremy Boring's fantasy series, which Owens says was the single greatest contributor to the company's financial collapse.
Where this was said
At 46:20 · chapter starts 37:14
The Semafor article confirms what Candace says she has been reporting for months: The Daily Wire is in serious financial distress. The piece reveals the $50 million spent on just 7 episodes of Pendragon — Jeremy Boreing's fantasy passion project — exceeding HBO's per-episode Game of Thrones Season 1 budget. The company failed to find a private equity rescuer and is now working with Highmount Capital to raise $100 million in strategic investment at a valuation Candace says is 'absurdly' aspirational given the financial reality. Candace then draws on her private equity background at a distressed debt firm to dissect the Daily Wire's tactics: free and deferred subscriptions allow them to announce 'record subscription years' while generating no meaningful revenue — a classic pre-sale pump. The claimed $48M adjusted EBITDA is, she argues, meaningless without seeing the actual books. The ultimate play is an IPO — the retail investor version of a pump-and-dump, where insiders cash out while the people the company has called antisemites and 'literally Hitler' buy worthless shares. Candace concludes: it's a cult, and a cult cannot survive. [1] — Candace Owens "The Daily Wire spent at least $50 million producing just 7 episodes of Pendragon, Jeremy Boreing's fantasy passion project. That is more mo…" 45:56 [2] — Candace Owens "Having failed to secure private equity rescue money, The Daily Wire is pursuing a $100M strategic investment via Highmount Capital with an …" 49:10
In a Jubilee debate clip, Dave Rubin insisted there were no ongoing Israeli operations in Gaza and no remaining hostages — and was immediately fact-checked on camera as 'fundamentally false.' Candace says this confirms he operates purely on tribalism and headlines, not information.
According to a Semaphore article, The Daily Wire is seeking at least $100 million in strategic investment with an eye toward an IPO, indicating severe financial distress.
The Daily Wire spent at least $50 million producing just 7 episodes of Pendragon, Jeremy Boreing's fantasy passion project. That is more money per episode than HBO spent on Game of Thrones Season 1. Candace calls this the single greatest contributor to the company's financial collapse.
The Daily Wire gave away free memberships through 'buy one get one' and deferred payment schemes, then announced record subscription years. Candace, who worked in private equity at a distressed debt firm, explains this is a classic pump-before-sale tactic: you can show subscriber highs without revealing you made no profit.
Semaphore published a revenue and subscriber chart for The Daily Wire showing growth slowdown and a collapse in advertising. The steepest decline aligns with Candace's exit and was followed by Brett Cooper's departure. No subscriber growth was recorded in the most recent year.
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