Former US President Donald Trump speaks during a rally at the Iowa States Fairgrounds in Des Moines, Iowa, US, October 9, 2021. (Photo: REUTERS)

TRUTH Social will be created through a new company formed by a merger of the Trump Media and Technology Group and a special acquisition company, according to a press release distributed by both organizations.

The social network, set for a beta launch next month and full rollout in the first quarter of next year, is the first of three stages in the company's plans, followed by a subscription video-on-demand service called TMTG+ that will feature entertainment, news and podcasts, according to the news release.

Twitter, Facebook and other social media platforms banned Trump from their services after hundreds of his supporters rioted at the US Capitol in January.