President Donald Trump disclosed on Sunday that Lachlan Murdoch, CEO of Fox Corp, along with tech executives Larry Ellison and Michael Dell, are set to participate in an investor group acquiring TikTok's American assets from its Chinese owner, ByteDance.
During a Fox News interview on "The Sunday Briefing," Trump noted Lachlan Murdoch's involvement, casually referencing the distinctiveness of his name, and indicated that Rupert Murdoch, the 94-year-old media magnate, might also join the consortium.
The announcement follows efforts to avoid a 2024 congressional ban on TikTok, driven by concerns over national security and potential Chinese government access to user data.
The Trump administration has extended divestiture deadlines multiple times, weaving TikTok negotiations into broader U.S.-China economic talks.
The proposed acquisition includes a seven-member board with six American seats to ensure strong governance.
White House press secretary Karoline Leavitt stated on Saturday that Oracle, led by Ellison, would handle data and privacy controls, with U.S. authorities overseeing the app’s domestic data and algorithm operations.
Leavitt emphasized that the deal prioritizes American ownership, aligning with national interests.
Trump credited TikTok’s 170 million U.S. users for boosting his 2024 reelection campaign by engaging younger voters and expressed optimism about the group’s ability to manage the platform.
Lachlan Murdoch recently secured control over his family’s media holdings, including Fox News and The Wall Street Journal, after a prolonged legal dispute with siblings.
Ellison, Oracle’s co-founder and a noted Republican donor, has long been linked to TikTok acquisition efforts, while Dell leads Dell Technologies.
The announcement coincides with ongoing friction, including a Trump lawsuit against The Wall Street Journal, part of the Murdoch-led News Corp, over unrelated allegations tied to Jeffrey Epstein.
As the deal progresses, it aims to address security concerns while allowing TikTok to maintain its significant U.S. presence under tightened regulations.