President Donald Trump told Fox News on Sunday that Rupert Murdoch and his son Lachlan are “probably” going to be engaged in a possible TikTok purchase, which has been the focus of the Trump administration’s hype this weekend.
Trump claimed that “a man named Lachlan is involved.” “Lachlan Murdoch… I believe that Rupert Murdoch and the other members of the organization will be included.
The president added that Michael Dell, the CEO of Dell Technologies, and Larry Ellison, the executive chairman of Oracle, are probably implicated.
Following his remarks, Deadline revealed that Fox Corp., the owner of Fox News, which is led by CEO Lachlan Murdoch and has long been chaired by chairman emeritus Rupert, is in fact in talks to join the investor group supporting TikTok’s U.S. spinoff from owner ByteDance. Trump did not clarify whether he was referring to personal or corporate investments.
In an earlier appearance on Fox News on Saturday, White House Press Secretary Karoline Leavitt stated that an agreement had been struck, but not yet signed, to spin out TikTok’s U.S. operations under majority American ownership.
According to Leavitt, the algorithm of the redesigned TikTok short-form video app will be controlled by the United States, and Americans will hold six of the seven board positions, as reported by Bloomberg.
We just need to sign this deal, which should happen in the next few days, Leavitt stated. “All of those details have already been agreed upon.”
According to a senior White House official quoted by Bloomberg, Oracle, Andreessen Horowitz, and private equity company Silver Lake Management will be among the new investors in TikTok. Oracle will be in charge of the app’s security and safety. According to reports, ByteDance would hold less than 20% of the newly formed business.
TikTok briefly went offline in the US in January, just before Trump took office again, after a federal measure was enacted last year that would have banned the app. However, Trump kept pushing back ByteDance’s deadline to sell the app to new owners. He announced on Friday that the agreement had been authorized by Chinese President Xi Jinping. TikTok also thanked Xi and Trump in a statement for “their efforts to protect TikTok in the United States.”
“ByteDance will comply with the legal requirements to guarantee that TikTok is accessible to American users via TikTok U.S.,” the business stated.
Trump’s remarks on Rupert and Lachlan Murdoch have been incorporated into the headline and post.
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