The Trump administration has been in talks about a potential TikTok deal over the weekend, with President Donald Trump hinting at the involvement of media mogul Rupert Murdoch and his son Lachlan. In a recent interview with Fox News, Trump mentioned that the Murdochs, along with Oracle executive chairman Larry Ellison and Dell Technologies CEO Michael Dell, are likely to be part of the deal.
While the specifics of their involvement were not disclosed, reports have surfaced indicating that Fox Corp, owned by the Murdoch family, is in discussions to join the investor group supporting TikTok’s U.S. spinoff from its parent company ByteDance. White House Press Secretary Karoline Leavitt revealed that an agreement has been reached, pending signatures, that would see TikTok’s U.S. operations under majority American ownership.
According to Bloomberg, Americans are set to hold six out of seven board seats in the restructured TikTok, with the app’s algorithm being controlled by the U.S. government. The deal is on track to be finalized in the coming days, as Leavitt stated during a recent interview on Fox News.
In addition to Fox Corp, new investors in TikTok are said to include tech giants Oracle and Andreessen Horowitz, as well as private equity firm Silver Lake Management. Oracle will be responsible for overseeing the app’s security and safety measures, with ByteDance retaining less than 20% ownership of the spun-off company.
The discussions surrounding TikTok come after a federal bill was passed last year threatening to ban the app in the U.S. Trump has extended deadlines for ByteDance to sell the app, citing national security concerns. The recent approval from Chinese President Xi Jinping and statements from TikTok expressing gratitude towards both Xi and Trump indicate progress towards a resolution.
ByteDance has pledged to comply with all relevant laws to ensure TikTok remains accessible to American users through TikTok U.S. The company’s commitment to maintaining a presence in the U.S. market aligns with ongoing efforts to address security and privacy concerns raised by U.S. officials.
As developments continue to unfold, the involvement of key players like the Murdochs, Oracle, and other prominent investors signals a potential shift in TikTok’s ownership structure. The evolving landscape of social media and technology partnerships underscores the importance of strategic alliances in navigating complex regulatory environments.
