Rupert Murdoch and his son Lachlan are reportedly among investors interested in acquiring TikTok in the United States, as indicated by former President Donald Trump during a Fox News interview. Trump mentioned that Oracle chairman Larry Ellison and Dell founder Michael Dell could also play roles in this potential deal to ensure TikTok continues its operations in the U.S.
The feasibility of such a sale stems from legislation passed by Congress in April 2024, which mandates that TikTok’s Chinese parent company, ByteDance, must divest its U.S. operations or face a ban of the app. This law was introduced due to concerns surrounding data privacy, specifically related to the personal information of TikTok’s 170 million American users. Currently, the law’s enforcement is paused as negotiations progress.
Trump described the involved parties as “well-known” individuals capable of generating significant investment. He also mentioned that Lachlan Murdoch has recently taken leadership of Fox Corp and News Corp, concluding a lengthy succession dispute within the Murdoch family, while his father, Rupert Murdoch, serves as chairman emeritus of News Corp. Recent reports suggest the Murdochs would be participating in this deal through Fox Corp rather than as individual investors.
The White House has signaled that a deal may soon be finalized due to mounting political pressure to transfer TikTok’s U.S. operations away from Chinese control. Press Secretary Karoline Leavitt stated that an agreement might be reached “in the coming days,” emphasizing that data security for users would potentially be overseen by Oracle.
China has not yet confirmed any developments regarding these negotiations. The Chinese government has expressed willingness to engage in discussions that comply with its laws and frameworks, aiming to find a balanced solution. As of now, ByteDance has not commented on Trump’s statements regarding the potential deal.
Source: https://www.bbc.com/news/articles/crkjjv28ykjo?at_medium=RSS&at_campaign=rss