Multi-billionaire Peter Thiel looking at creating Fox News Competitor

Peter Thiel has a net worth of $2.5 billion. Thiel is looking to create a new conservative news channel which would be a competitor to Fox News. Thiel is working with hedge fund billionaire Robert Mercer.

The Mercer family is led by hedge fund billionaire and Breitbart patron Robert Mercer.

Thiel believes that there is room to create a more right-wing than Fox News channel.