Trump 'plotting rival company' to Fox News

US President Donald Trump speaks in the Rose Garden at the White House in Washington, D.C on Friday, Nov. 13, 2020. Photo / Getty

Donald Trump is reportedly plotting to launch a digital media company to rival Fox News after a dramatic falling out with his once-preferred TV network.

The President has told friends he wants to start an online streaming platform that would hurt Fox financially and foster an even more loyal audience, according to Axios.

"He plans to wreck Fox. No doubt about it," a source with knowledge of Trump's intentions told the website.

The new media company, which would only be able to launch after the outgoing President leaves office, would allow Trump to retain a powerful voice among conservatives and give him a boost in publicity should he decide to run again in 2024.

He has complained in recent weeks of the "unfair" coverage he has been given by Fox, which he claims is giving too many interviews to Democrats.

In a tweet yesterday he said: "@FoxNews daytime ratings have completely collapsed. Weekend daytime even WORSE. Very sad to watch this happen, but they forgot what made them successful, what got them there."

"They forgot the Golden Goose," he continued, referring to himself. "The biggest difference between the 2016 Election, and 2020, was @FoxNews.

"He also used a tweet to suggest his favourite hosts - Sean Hannity, Tucker Carlson and Laura Ingraham - should quit "while there is time".

Trump's supporters have followed his lead, demonstrating a growing animosity towards the station - the first to call the state of Arizona for rival Joe Biden on election night.

According to reports, the President "blew up" upon hearing the announcement and told his aides to get the channel to reverse its decision.