Exhibit 99.2

November 2025 Investor Presentation

Investment Highlights Rapidly Expanding News Network with Strong Growth Trajectory Highly Loyal Audience with Significant Reach Diverse Platform Model with Multi - Faceted Revenue Streams Platform and Reach Unlocks Monetization Upside World - Class Leadership with Strategic Access Debt - Free Balance Sheet with Capital Strength to Support Growth 2

On all platforms, for all people Newsmax Overview Growth and Scale U.S. Homes Footprint Across Pay TV 60M+ 100M+ Streaming on smartphones, apps and other devices #4 In Cable News 29M+ Newsmax TV Quarterly Viewership Jan - Sep ’25 vs. ‘24 +8% Newsmax TV Audience Reach Jan - Sept '25 vs. ‘24 +25% Newsmax 2 Viewership Growth Jan - Sept '25 vs. ‘24 Current Capital Strength $130M Cash and short - term investments as of 3Q FY25 Diversified Revenue $171M 75% Broadcast 25% Digital FY2024 Financial Overview Strong Growth +30 % Revenue CAGR 2019 - 2024 Free Streaming Channel Paid Streaming Service 3 Disclosure: Please note data is aggregated from Nielsen data, streaming dashboard of OTT providers, internal company estimates and other analytic services. The numbers and data are variable and subject to change. Live Cable TV

Digital & Social Disruption • Fragmented news outlets and rise of misinformation • Click - driven economics • Market void emerges, trust gap grows Legacy Media Overreach • CNN, Fox lean into entertainment and spectacle • Ratings chase undermines credibility • Audiences overwhelmed by conflict journalism The Return to Trusted Voices • Journalism and informed opinion • Audiences turn away from sensationalism, seeking truth • Newsmax among the most trusted news brands 1 covering issues Americans deeply care about Newsmax – Building The Future Of Journalism Restoring Trust in News Golden Age of News • Select few universally trusted sources • Mass audiences and stable monetization • Proof that audiences reward authoritative journalism Pre - 2010 2010 - 2020 COVID - 2024 Future State 4 1. Economist / YouGov annual survey of Trust in Media.

SOCIOGRAPHIC SHIFTS MEDIA SHIFTS Capitalizing On Secular Shifts In Media And Society • National and global interest in politics and society on the rise • Demographics increasingly identify by political ideology • Being “conservative” is more nuanced • Growing need to separate facts from misinformation in the age of AI Strategic Edge • Cable, streaming, web, social and apps are now all viable platforms • Less consolidated news ecosystem with fragmented sources • Viewership and ad dollars increasingly flow to live content • FAST channels lead growth • Streaming driving premium content 5 x Purpose - built for multi - channel, multi - media x Appeals to American values x Not beholden to a media conglomerate x Innovative monetization & audience engagement x Unified, focused leadership and trusted brand

News Business Today News Consumption Diversifying Trust is in Decline Less Competitive On The Right Proportion that used each as a source of news in the last week in the U.S. Americans’ trust in mass media is at an all time low 72% Top 15 multi - channel news source preferences by political affiliation in the U.S. 13 Dem / Lean Dem Rep / Lean Rep Dem / Lean Dem Rep / Lean Rep 1 3 2 2 47% 27% 72% 69% 54% 50% 48% 15% 14% 7% TV Social and video networks News podcasts Print Online news sites/apps AI chatbots 28% Source: Reuters Institute. 6 Source: Gallup. Sources: Pew Research.

Battleground Settled Fighting for Basis Points Battleground Open Huge Whitespace The Opportunity x Purpose - built for multi - channel, multi - media x Appeals to American values x Not beholden to a media conglomerate x Innovative monetization & audience engagement x Unified, focused leadership and trusted brand Strategic Edge “S urge in Ne w s m a x rati ngs shook Fox News…” 7

Newsmax Reach – Now A Growth Amplifier Expand Revenue Opportunities, International and More Digital Media / Subscription Expansion Advertising Revenue Growth Affiliate Fee Upside International growth and expand audience lifetime value by selectively offering our audience new products and services Scaling Newsmax App, Newsmax+, Newsmax2 to capture digital - first audiences Leveraging ratings momentum, premium demographics (35 – 64), and multi - platform campaigns Significant upside as MVPD / OTT renewals move toward industry benchmarks 8

$2.52 $1.30 $0.64 $0.39 $0.38 60M 1 56M 59M 48M 59M 61M #4 #2 #6 #5 #3 #1 Affiliate Fees Set To Reprice CAPITALIZING ON REACH AND GROWTH Source: Nielsen as of September 2025, Kagan (*average monthly affiliate fee per subscriber in 2024). 1) Nielsen Homes inclusive of management estimate. Affiliate Fees Significant Opportunity Built - In Growth Catalyst – Expiring contracts reset at market rates High - Margin Upside – Flows directly to bottom line Massive Gap to Peers – Current rates trail peers by average of 7x Distribution Parity – Now in 60M homes, on par with peers Audience Outperformance – More viewers than CNBC + Fox Business combined in access & prime Affiliate Rate Per Subscriber ($ per month) 9 Nielsen Homes Ratings All Key Dayparts

NEWSMAX BEATS COMPEITION Total Day: Jan - Se pt ' 25 vs. ‘24 +1% - 9% - 21% - 32% RECENT NATIONAL AD ADDITIONS $80M $15M 2020 2024 Newsmax Digital AD Sales $11M $20M 2020 2024 +450 % +7 3 % Accelerating AD Growth Newsmax TV AD Sales 10 Source: Nielsen NPower National Live SD (000) used in analysis Jan – Sept 2025 vs. 2024. Top Advertisers – Turning To Newsmax

53M+ Total Newsmax TV Viewers 19M+ Newsmax App Downloads 280K+ Newsmax+ Paid Subscribers TELEVISION APPS / STREAMING NEWSMAX.COM SOCIAL 22M+ Social Media Followers On All Platforms, for All People +8 % as of Sept '25 vs. ‘24 +16% as of Sept '25 vs. ‘24 +33% as of Sept '25 vs. ‘24 +6 % as of Sept '25 vs. ‘24 ~9M Avg. Monthly Users +2 4 % Jan - Sept '25 vs. ‘24 11 Disclosure: Please note data is aggregated from Nielsen data, streaming dashboard of OTT providers, internal company estimates and other analytic services. The numbers and data are variable and subject to change. Am ong t he be st pe r - f ol l owe r e ngage me nt rat e i n T V ne ws Fast - Growing Footprint Broadens & Strengthens Our Brand

HIGHLY ENGAGED AUDIENCE UNLOCKING SUBSTANTIAL SPEND Expanding Audience Lifetime Value Enhance Product Execution: Podcasts, radio, Newsmax.com, app, books, magazine, social, talent development, new digital media channels, seeking family friendly content Global Growth: New international licensing deals, live AI dubbing, broader global footprint and more correspondents worldwide Cross - Platform Integration: E - commerce, subscription bundles and digital ad growth Underleveraged Verticals: Finance, insurance, health and retirement services High income earners High net worth retirees Active and actionable families Socially responsible and community driven Highly digitally involved base, TV generation, social media savvy Loyal, action - oriented audience Opportunities to Expand Our Offering 12

Global Growth With Significant Expansion On The Horizon 100+ Countries Available N e w D i st r i b u t i o n P a r t n e r sh i p s: x C e l l c o m I s r a e l x T e l e c o m A r m e n i a x S u p e r c a n a l ( D o m i n i c a n R e p u b l i c ) x F r e e v i e w U . K . x F u b o C a n a d a x D u M i d d l e E a s t x M o l o t o v F r a n c e First and only live dubbed news channel U.S. Channel Carriage U.S. Channel Carriage & Live AI dubbing B r a n d L i c e n si n g P a r t n e r sh i p s: x R e p u b l i c o f S e r b i a x R e p u b l i c o f C r o a t i a x B o s n i a & H e r z e g o v i n a x M o n t e n e g r o x S l o v e n i a x N o r t h M a c e d o n i a x A l b a n i a 13

World - Class Leadership With Strategic Access CHRISTOPHER RUDDY Chief Executive Officer • Founded Newsmax in 1998 • Former Journalist at New York Post, Pittsburgh Tribune - Review • Served as Media Fellow, Hoover Institution • Mult ichannel News’ “ News Titans”: Top 10 People to Know in TV News • N ame d Cablefax’ s Top 100 Power Players Leadership Team Board A L E X A C O S T A • Served as 27 th U.S. Secretary of Labor • 30+ years of legal expertise across government, academia and private practice N A N C Y B R I N K E R • Philanthropist, Founder of Susan G. Komen for the Cure • Anchor for Newsmax TV P A U L A D O B R I A N S K Y • Vice Chair of the Atlantic Council's Scowcroft Center for Strategy and Security • Former SVP and Global Head of Government and Regulatory Affairs at Thomson Reuters D A V I D G A N D L E R • Co - Founder and Chief Executive Officer of FuboTV Inc. • 15+ years in video sales in local broadcast and cable TV C H R I S N I X O N C O X • CEO of Lightswitch Capital, Argali Carbon Corporation and BioSource Feeds Corporation • Co - Founder and Managing Partner of OC Global Partners D A R R Y L E BURNHAM Chief Financial Officer • Former Director of Finance and Operations at CopperCom, Inc. • Former Corporate Treasurer for Sleepmaster, LLC (dba Serta Mattress) • Former Finance Manager, Procurement for Scientific Atlanta (now Cisco) E L L I O T J A C O B S O N Chief Content Officer and EVP Programming • Former EVP / Chief Content Officer at RLTV, jointly owned by Comcast • Launched 38 series, 37 specials at RLTV • Former Executive Director of Media Operations for Laureate L A U R A V A I L Vice President of Marketing • 34+ years in marketing • Key leader at Newsmax for 11+ years, driving data - driven success • Former executive at ProCirc and Business Week; managed brands like CFR, Rolling Stone and Disney A N D Y B I G G E RS SVP of Content Distribution • 9 years at 21 st Century Fox cable channels • Handled Fox News distribution agreements, relationships • 5 years with Viacom / MTV Marketing Development 14

STRONG QUARTERLY RESULTS REALIZING STRONG REVENUE GROWTH AND OPERATIONAL MOMENTUM IN A NON - ELECTION YEAR 3Q FY25 Highlights Revenues of $45.3M, up 4.0% YoY Broadcast Revenues of $36.6M, up 10.1% YoY Remains Fourth Highest - Rated Cable News Channel $43.6 $45.3 Revenue ($ in millions) Partnership expansions: Secured distribution agreement with a leading hospitality provider and partnered with Curb to bring Newsmax programming to the Taxi TV platform International: launched Newsmax en Español on Fubo's Latino plan and Latino Plus add - on package, expanded international news coverage with Carl Higbie broadcasting live from Israel, and partnered with Trump Media & Technology Group to make Newsmax available at a global scale via the Truth+ streaming platform +4.0 % 3Q FY24 3Q FY25 Broadcast Revenue ($ in millions) No Long - Term Debt and Strong Cash Position $33.2 $36.6 3Q FY24 3Q FY25 +10.1 % 15

Positioned to Generate Long - Term Shareholder Value Rapidly Expanding News Network with Strong Growth Trajectory Highly Loyal Audience with Significant Reach Diverse Platform Model with Multi - Faceted Revenue Streams Platform and Reach Unlocks Monetization Upside World - Class Leadership with Strategic Access Debt - Free Balance Sheet with Capital Strength to Support Growth 16