Controversial former Breitbart editor Milo Yiannopoulos announced Friday that he has formed a new media company.

A Facebook post on Yiannopoulos's official page says he received $12 million in funding from undisclosed investors for MILO, Inc., which will manage his books, tours, merchandise and radio and TV opportunities. The company has already hired a "seasoned media executive" to lead a 30-person team based in Miami, Fla. The identity of this person was not revealed.

"This isn't some vanity nameplate on a personal blog," Yiannopoulos is quoted as saying. "This is a fully tooled-up talent factory and management company dedicated to the destruction of political correctness and the progressive left."

He vowed to dedicate the rest of his life "to making the lives of journalists, professors, politicians, feminists, Black Lives Matter activists and other professional victims a living hell."

"Free speech is back — and it is fabulous," he said.

The announcement Friday comes after Yiannopoulos revealed earlier this month that he is making a "comeback" at the University of California, Berkeley this year.

Yiannopoulos is often associated with the alt-right movement that has evoked the ire of the Left. He made headlines due to a social media spat last summer with comedian Leslie Jones, when he chided the "Saturday Night Live" and "Ghostbusters" actress for her poor acting and said she was "Barely literate." Yiannopoulos's trolling, which was followed by a torrent of racist and insulting comments directed at Jones by his supporters, led to him getting banned from Twitter.

This year there has been a wave of backlash against the openly gay former editor.

In February, UC Berkeley canceled an event with Yiannopoulos after a wave of violent protests. Later that month he resigned from Breitbart amid controversy that began after videos resurfaced showing him apparently expressing support for some instances of sex between adults and minors. He was also booted from the Conservative Political Action Conference.