February 26, 2024

Mike Lindell, CEO of My Pillow Inc., speaks to media representatives upon his arrival in federal court in Washington, DC, United States on Thursday, June 24, 2021.

Joshua Roberts | Bloomberg | Getty Images

Mike Lindell, chief executive of MyPillow, told CNBC on Friday he was pulling ads from Fox News after the network said it wouldn’t need one of its commercials promoting a symposium that will squeeze election fraud allegations.

MyPillow is one of Fox News and Tucker Carlson’s largest advertisers. Lindell said he spent nearly $ 50 million on the network last year and about $ 19 million this year to run his ads.

“It is unfortunate that Mr. Lindell has decided to pause his advertising time with FOX News given the success he has seen building his brand through advertising on the leading cable news network,” a Fox News spokesman told CNBC in a per Statement sent by email.

Lindell told CNBC in a phone interview that he made the decision to retire after Fox News refused to run a one-minute commercial promoting a cyber symposium that he will be broadcasting live from August 10th to August 12th .

“I’ve pulled all of my ads. Each, ”said Lindell. “If there are stragglers today, it’s a coincidence.”

Since the 2020 presidential election, Lindell has made allegations of widespread electoral fraud in which President Donald Trump’s votes were stolen. However, security and election officials have found no evidence of such activity.

The Wall Street Journal, which, like Fox, is owned by News Corp. is, first reported on the ad dispute. Citing Lindell, the ad said that Trump’s election fraud allegations were not mentioned. However, the Journal noted that Lindell said the symposium would prove the election was stolen due to tampering with voting machines.

Voting machine manufacturer Dominion Voting Systems filed a defamation lawsuit against Lindell and MyPillow in February. Lindell later filed a counterclaim for $ 1.6 billion.

Fox News was also sued by Dominion. It claims the cable news network falsely claimed that Dominion’s voting machines were tampered with during the 2020 presidential election. Fox News has dismissed the lawsuit.

Lindell said earlier this year that several retailers, including Bed Bath & Beyond and Kohl’s, stopped selling its products after starting voice fraud allegations.

“We lost 40% of our business in January and February,” said Lindell. “I can’t get this back. I can only try.”