Newsmax is poised for significant growth and is already a major media player, Newsmax CEO Christopher Ruddy told CNBC’s “Squawk Box” Monday morning.

“I’m running Newsmax, which is not far behind CNN at about $200 million a year in revenues and expenses,” Ruddy said.

He noted that at the same time “CNN’s spending billions and billions, so there must be tremendous fat in all these companies.”

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