President Donald Trump revealed that media executives Rupert and Lachlan Murdoch, Oracle’s Larry Ellison, and Dell CEO Michael Dell are involved in negotiations to assume control of TikTok’s U.S. branch. The agreement aims to transfer ownership from ByteDance to a predominantly American-led consortium.
The potential transaction is progressing as discussions continue to unfold over the future ownership of TikTok in the U.S. Trump announced in a Fox News interview that Lachlan Murdoch is actively participating in the arrangement, with his father Rupert possibly joining. Oracle and Dell leaders are also expected to play significant roles in the acquisition group.
While details remain somewhat in flux, media reports indicate that Fox Corporation, headed by Lachlan Murdoch, may also be part of the takeover. The planned restructuring involves spinning TikTok off from Chinese parent company ByteDance to secure majority ownership by U.S. investors. White House Press Secretary Karoline Leavitt confirmed that the framework of the deal is agreed upon in principle, with final signatures expected soon.
Under the revamped structure, American representatives would hold six of the seven board seats, and TikTok’s algorithm would be overseen domestically, key measures to address national security concerns. Bloomberg reports that besides Oracle, venture capital firm Andreessen Horowitz and private equity firm Silver Lake Management may join the consortium. Oracle is slated to lead the platform’s security and safety operations, while ByteDance would keep less than a 20% stake.
This development follows federal legislation mandating ByteDance’s divestment of TikTok’s U.S. activities, with the threat of a ban looming if unresolved. Earlier in the year, U.S. courts ordered the sale by January 19, prompting many creators to migrate to other platforms. Trump revealed he personally discussed the approval with China’s President Xi Jinping, who supported the deal’s restructuring. TikTok expressed gratitude towards both leaders for their efforts to ensure the app’s continued availability to American users.
Train veers off track, kills 39 in Spain
January 19, 2026
