Murdoch Family and Oracle Join Forces in Potential TikTok Deal Approved by Trump and Xi Jinping
The administration of President Donald Trump is reportedly considering a deal involving TikTok, with key figures including Oracle executive chairman Larry Ellison, Dell Technologies CEO Michael Dell, and potentially Rupert Murdoch and his son Lachlan.
According to the president’s statements to Fox News, Lachlan Murdoch is expected to be involved in the negotiations, while he suggested that Rupert Murdoch may also join the investor group supporting TikTok’s U.S. spinoff from ByteDance.
Although Trump did not clarify whether he was referring to personal or corporate investments, Deadline reported that Fox Corporation – owner of Fox News and led by CEO Lachlan Murdoch – is in talks to join the investor group for TikTok’s U.S. spinoff.
White House Press Secretary Karoline Leavitt previously stated on Fox News that an agreement has been reached, but not yet signed, which would see TikTok’s U.S. operations transfer to majority American ownership. Leavitt added that Americans will hold six of seven board seats in the restructured TikTok, and the app’s algorithm will be controlled within the United States.
Bloomberg reported that new investors in TikTok may include Oracle, Andreessen Horowitz, and private equity firm Silver Lake Management, with Oracle responsible for the app’s security and safety. ByteDance is expected to own less than 20% of the spun-off company.
A federal bill passed last year aimed at banning TikTok in January was set to take effect shortly before Trump returned to office. The app briefly went dark in the United States before Trump extended the deadline for ByteDance to sell the app to new owners. He stated on Friday that China’s president Xi Jinping had approved the deal, and TikTok issued a statement thanking both leaders “for their efforts to preserve TikTok in the United States.”
ByteDance added that it will work within applicable laws to ensure TikTok remains accessible to American users through its U.S.-based subsidiary.
