In an interview on Sunday, U.S. President Donald Trump confirmed that the list of potential buyers for TikTok’s U.S. operations has been restructured. In addition to Oracle founder Larry Ellison, the consortium now includes Dell founder Michael Dell, as well as Fox Corporation chairman Lachlan Murdoch and his father, Rupert Murdoch, representing the Murdoch family.
Trump stated that the objective of this new acquisition group is clear: to secure TikTok’s core algorithm, ensuring the platform’s continued operation in the United States while complying with the legislation passed by Congress in 2024. That law mandates TikTok to divest roughly 80% of its U.S. holdings to American investors or face a complete ban.
Compared with earlier iterations of potential buyers, this consortium notably excludes Silver Lake Capital and venture capital firm a16z, previously rumored participants. Instead, the effort is now spearheaded by a direct alliance between a technology powerhouse and a major media conglomerate.
Sources familiar with the matter revealed that the Murdoch family’s involvement extends beyond personal investment. Fox Corporation itself is expected to join the consortium, strategically reinforcing its digital media footprint as a counterbalance to the revenue decline in traditional broadcasting and television.
White House Press Secretary Karoline Leavitt had earlier announced that TikTok U.S. would be governed by a seven-member board, six of whom must be American, with Oracle overseeing all U.S. user data and privacy. Oracle has, in fact, been managing TikTok’s U.S. data storage since 2020, and now stands as a central figure in the acquisition.
If completed, the deal would not only secure TikTok’s future in the American market but also reshape the global short-video landscape. With its algorithm included in the transaction, TikTok’s content distribution and monetization strategies are likely to be reoriented toward U.S. regulatory expectations and user preferences—posing a direct challenge to competitors such as Meta and YouTube Shorts.
Negotiations between Washington and Beijing are reportedly in their final stage. One possibility under discussion is the launch of a U.S.-specific version of TikTok, built upon ByteDance’s algorithm but controlled primarily by American investors, with roughly 80% U.S. ownership and the Chinese stake capped below 20%. The U.S. government itself could stand to gain several billion dollars in associated compensation.
However, the agreement has yet to be finalized. Meanwhile, Trump has already signed his fourth executive order extending the deadline for TikTok’s ban in the U.S., granting both sides until the end of December to conclude negotiations.
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