The Trump administration has spoken a potential Tiktok deal this weekend, with President Donald Trump telling Fox News on Sunday that Rupert Murdoch and his son Lachlan “probably” will be involved.
“A man named Lachlan is involved,” Trump said. “Lachlan Murdoch… Rupert [Murdoch] will probably be in the group I think they will be in the group. “
The president also said that Oracle Executive President Larry Ellison and Dell Technologies CEO Michael Dell are likely to be involved.
While Trump did not specify whether he was talking about personal investments or business investments, following his comments, the deadline reported that Fox Corp – owner of Fox News, run by CEO Lachlan Murdoch, and long led by President Emeritus Rupert – is actually in the negotiations to participate in the investor group supporting Tikkoks American Spinoff from the owner Bytedance.
The White House Press Secretary Karoline Leavitt earlier came on Fox News on Saturday and said an appointment has been reached – but not signed – that would see Tikkok’s US operations spun out under Majority’s US ownership.
Leavitt said Americans will hold six of seven board records in the restructured Tiktok, and the short-shaped video app’s algorithm will be US-controlled, according to Bloomberg.
“So all these details have already been agreed, now we just need this deal to be signed, and that will happen, I expect, in the coming days,” Leavitt said.
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Bloomberg also reported that a senior White House official said that new investors in Tiktok will include Oracle, Andreessen Horowitz and private Equity company Silver Lake Management, with Oracle responsible for the app’s security and security. Bytance would reportedly own less than 20% of the spun company.
A federal bill passed last year was set to ban Tiktok in January, shortly before Trump returned to the office and the app was short dark in the United States. But Trump repeatedly extended the deadline for city dance to sell the app to new owners. He said Friday that China’s President Xi Jinping had approved the deal, and Tiktok also issued a statement that thanked Xi and Trump “for their efforts to preserve Tiktok in the United States.”
“Bytance will work in accordance with applicable laws to ensure that Tiktok remains available to US users through Tiktok us,” the company said.
This post and headline has been updated with Trump’s comments about Rupert and Lachlan Murdoch.