The Trump administration was discussing a potential contract for Tiktock this weekend, and President Donald Trump told Fox News on Sunday that Rupert Murdoch and his son Lachlan would “probably” be involved.
“There's a guy named Lachlan 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's executive chairman Larry Ellison and Dell Technologies CEO Michael Dell are likely involved.
Trump did not specify whether he was talking about personal or company investments, but following his comments, Deadline reported that he will be led by longtime Emeritus Rupert, owner of Fox News and run by CEO Lachlan Murdoch.
White House spokesman Karoline Leavitt previously appeared on Fox News on Saturday and said that Tiktok's US business, spun under Tiktok's US ownership, has been reached, but has not been signed.
Leavitt said Americans will hold six of the seven board seats in the rebuilt Tiktok, and Bloomberg said the algorithm for the short video app will be US controlled.
“So all these details have already been agreed, and now we need to sign this transaction.
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Bloomberg also reported that senior White House officials said that Tiktok's new investors include Oracle, Andreesen Horowitz and private equity firm Silver Lake Management, with Oracle being responsible for the security and safety of the app. Bytedance reportedly owns less than 20% of the company it spun.
The federal bill passed last year is set to ban Tiktok in January just before Trump takes office, with the app temporarily darkening in the US, and Trump has repeatedly extended the deadline for Bytedance to sell to new owners. He said on Friday that Chinese President Xi Jinping approved the deal, and Tiktok issued a statement thanking Xi and Trump “for their efforts to maintain Tiktok.”
“Baitedans will function in accordance with applicable laws to ensure that Tiktok continues to be available to American users through the Tiktok United States,” the company said.
The post and headlines were updated with Trump's comments on Rupert and Lachlan Murdoch.