Trump Suggests Murdoch Family may Invest in TikTok Deal
WASHINGTON D.C. – Former President Donald Trump indicated Saturday that Lachlan and Rupert Murdoch may become investors in the restructuring deal aimed at keeping TikTok operating in the United States. The potential investment comes as a tentative agreement nears finalization, potentially averting a ban that loomed over the popular short-form video app for months.
The development adds a new layer to the complex negotiations surrounding TikTok’s future, which has been subject to intense scrutiny over national security concerns. A deal would see TikTok’s U.S. operations spun out under majority American ownership, addressing those concerns while allowing the app to continue serving its large American user base. The stakes are high, impacting over 170 million U.S. users and a significant portion of the digital advertising market.
According to statements made by Matthew Leavitt, who previously appeared on Fox News, an agreement – though not yet signed – has been reached that would grant American investors six of seven board seats in the restructured tiktok. The app’s algorithm will also be U.S.-controlled.
Bloomberg reported that new investors are expected to include Oracle, Andreessen Horowitz, and private equity firm Silver Lake Management, with Oracle taking responsibility for the app’s security and safety. ByteDance,TikTok’s parent company,would reportedly retain less than 20% ownership of the spun-off U.S. entity.
Trump stated Friday that Chinese President Xi Jinping had approved the deal. TikTok subsequently issued a statement thanking both Xi and Trump “for their efforts to preserve TikTok in the United States.” ByteDance affirmed its commitment to ensuring TikTok’s continued availability to American users through TikTok U.S.
A federal bill passed last year had threatened to ban TikTok in January, shortly before Trump’s return to office. The app briefly went dark in the U.S. before Trump repeatedly extended the deadline for ByteDance to sell the app.
“So all of those details have already been agreed upon, now we just need this deal to be signed and that will be happening, I anticipate, in the coming days,” Leavitt said.
