The ownership structure of TikTok in the United States is nearing a breakthrough, with President Donald Trump confirming over the weekend that Rupert Murdoch and his son, Lachlan Murdoch, could be part of a powerful consortium acquiring control of the app’s U.S. operations.
In an interview with Fox News, Trump revealed that Lachlan Murdoch is “involved” in the deal and hinted that his father, Rupert, may also play a role in the investment group. He further noted that Oracle’s executive chairman, Larry Ellison, and Dell Technologies founder and CEO, Michael Dell, are expected to participate as well.
While the precise nature of the Murdochs’ involvement remains unclear, Trump did not specify whether their role would be through personal stakes or via Fox Corporation. Lachlan Murdoch currently leads Fox Corporation as CEO, which owns Fox News. U.S. media outlet Deadline has separately reported that Fox Corporation itself is engaged in ongoing discussions to formally join the consortium.
According to Trump and U.S. officials, the deal will see TikTok spun off from its Chinese parent, ByteDance, into a new company with majority American ownership. The White House has already outlined key aspects of the agreement. Press Secretary Karoline Leavitt explained that U.S.-based representatives would control six out of seven board seats and emphasized that TikTok’s core algorithm would be supervised within the United States.
“All of those details have already been agreed upon,” Leavitt said. “Now we just need this deal to be signed, which I anticipate happening in the coming days.”
Reports suggest that the consortium of investors will include Oracle, venture capital giant Andreessen Horowitz, and Silver Lake Management, a major private equity firm. Oracle is expected to take the lead in managing TikTok’s U.S. security and safety framework, addressing the longstanding concerns of American lawmakers about data privacy and potential foreign interference. ByteDance is projected to retain less than a 20% stake in the newly restructured entity.
The looming transaction is set against the backdrop of a federal law passed last year, which mandated a nationwide ban on TikTok unless ByteDance divested its U.S. operations. Earlier this year, TikTok was temporarily removed from app stores until Trump extended the deadline to allow for a resolution.
Adding a geopolitical dimension, Trump disclosed that he had held direct talks with Chinese President Xi Jinping regarding TikTok’s restructuring. According to Trump, Xi approved the arrangement, paving the way for the deal to proceed. In a rare joint acknowledgment of U.S.-China cooperation, TikTok released a statement thanking both leaders “for their efforts to preserve TikTok in the United States.”
“ByteDance will work in accordance with applicable laws to ensure TikTok remains available to American users through TikTok U.S.,” the company added.
If finalized, the deal would reshape ownership of one of the world’s most influential social media platforms, potentially easing U.S. national security concerns while allowing ByteDance to maintain a minority position. This could provide stability for TikTok’s 170 million American users while safeguarding its commercial growth.
Background Context
The latest development follows over a year of escalating tensions between Washington and Beijing regarding TikTok’s ownership. Concerns about data privacy, national security, and Chinese government influence pushed both Republican and Democratic lawmakers to demand changes. Trump had previously stated that TikTok must be at least 50% American-owned, stressing that its value in the U.S. depended on government approval.
Earlier this year, a federal appeals court ruled that TikTok could face an outright ban unless acquired by a U.S.-based entity by January 19. This looming deadline prompted many American creators to explore alternative platforms such as Instagram Reels and YouTube Shorts, fearing the loss of their TikTok audiences.
Amid the scramble, several companies reportedly considered bids, with Amazon said to have made a last-minute offer. However, according to officials, the bid was submitted in a letter to Vice President J.D. Vance and Commerce Secretary Howard Lutnick but failed to gain traction.
For ByteDance, the restructuring represents both a compromise and an opportunity: a way to satisfy U.S. legal demands while still retaining a stake in one of its most valuable global assets. For U.S. investors and policymakers, it signals a potential turning point in addressing the longstanding anxiety over foreign ownership of apps with massive influence on American culture and public discourse.
If the agreement moves forward as anticipated, TikTok’s U.S. operations will be placed under American control, its security architecture will be monitored by Oracle, and its governance will be firmly anchored in the U.S. — creating what may be the most significant restructuring of a global tech platform to date.
