"President Donald Trump has claimed that Rupert Murdoch and his son Lachlan are expected to join a U.S. consortium seeking to acquire TikTok's American operations from its Chinese owner, ByteDance. Speaking during a Fox News interview, Trump said the Murdochs would join Oracle founder Larry Ellison and Dell Technologies founder Michael Dell in the group. He suggested that the Murdochs' involvement would likely come through their Fox Corporation media business rather than personal investment."
"The proposed deal is part of efforts to prevent TikTok from being banned across the United States. Congress last year passed legislation requiring ByteDance to divest the app over national security concerns, but the enforcement of that law has repeatedly been delayed while negotiations continue. The White House said over the weekend that it expected the takeover to be completed "in the coming days." Trump added that he had spoken with Chinese President Xi Jinping to help secure approval for the deal."
Rupert and Lachlan Murdoch are reported to be joining a U.S. consortium with Larry Ellison and Michael Dell to acquire TikTok's American operations from ByteDance. The Murdochs' participation would likely be through Fox Corporation rather than personal investment. The proposal aims to prevent a U.S. ban after Congress passed a law requiring ByteDance to divest TikTok over national security concerns, although enforcement has been delayed while negotiations continue. The White House expects the takeover to close "in the coming days," and Oracle is expected to handle data and security functions. TikTok has over 130 million U.S. users and more than a billion worldwide. News Corp and Fox declined to comment. Trump said he spoke with President Xi Jinping to help secure approval, and he recently launched a $10 billion libel suit against the Wall Street Journal, owned by News Corp.
Read at Business Matters
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