Trump Backs Murdoch and Ellison in Surprise TikTok Fox News Deal Proposal

Former President Donald Trump suggests Lachlan Murdoch will join a new TikTok ownership group. He made the comments during a Fox News interview on Sunday. The deal would involve prominent American investors taking control of the popular app.

Trump specifically named Oracle’s Larry Ellison and Dell’s Michael Dell. He also confirmed Lachlan and Rupert Murdoch’s potential involvement. This move aims to resolve national security concerns tied to TikTok’s Chinese ownership.

Key Players in the Proposed TikTok Acquisition

The proposed ownership group includes major US tech and finance leaders. According to Trump, Oracle founder Larry Ellison is a central figure. Venture firm Andreessen Horowitz and private equity giant Silver Lake are also involved.

This consortium would acquire TikTok from its Chinese parent company, ByteDance. The deal is presented as a national security solution. It would place the app under American control, avoiding a complete ban.

Broader Impact on Media and Technology Sectors

This move would dramatically reshape the social media landscape. Placing TikTok under such ownership neutralizes a key threat to US tech giants. It also represents a significant power shift in the media industry.

For the Murdochs, it offers a chance at redemption in social media. Their previous venture, the purchase of MySpace, was a notorious failure. Controlling a piece of TikTok would be a monumental success, as reported by Reuters.

The proposed TikTok Fox News deal link represents a seismic shift in digital media ownership, blending established news empires with the raw power of social video.

Info at your fingertips

Who currently owns TikTok?

TikTok is owned by the Chinese technology company ByteDance. The proposed deal would transfer its US operations to a group of American investors.

Why is the US government concerned about TikTok?

US officials cite national security risks. They worry that user data could be accessed by the Chinese government under its laws.

What role would Fox News play in this deal?

Lachlan Murdoch, executive chairman of Fox Corporation, is named as a potential investor. This is a personal investment, not directly a Fox Corp. acquisition.

Has President Biden agreed to this deal?

President Biden signed a bill that could ban TikTok. However, he has delayed its enforcement to allow sale negotiations, like this one, to proceed.

What happened to the Murdoch’s previous social media investment?

News Corp. purchased MySpace for $580 million in 2005. They sold it just six years later for a fraction of that price, at a significant loss.

Trusted Sources: Associated Press, Reuters