Murdochs Likely to be Involved in TikTok Deal, Trump Confirms
President Donald Trump revealed on Sunday that Rupert Murdoch and his son Lachlan are likely to be part of a group of investors seeking to acquire TikTok's US operations, alongside tech moguls Larry Ellison and Michael Dell. The proposed deal aims to address concerns over data security and comply with a US law requiring the sale of TikTok's American arm.
According to Trump, the Murdochs would "probably" be involved in the deal, which he described as a high-profile effort to keep TikTok operating in the US. In an interview on Fox News, Trump said, "I think they're going to do a really good job," describing the group of investors as "American patriots."
The proposed acquisition is part of a broader agreement between the US and China to address concerns over data security and comply with a US law requiring the sale of TikTok's American arm. The deal would see the social media platform's American operations sold to a new entity, which would then be owned by a group of investors led by the Murdochs.
The involvement of the Murdochs in the deal is significant, as it suggests that a high-profile group is emerging to lead the effort. According to Trump, Oracle chairman Larry Ellison and Dell founder Michael Dell would also likely be involved in the proposed acquisition.
The proposed deal has been months in the making, with negotiations between the US government and Chinese authorities ongoing since August 2020. The deal aims to address concerns over data security and comply with a US law requiring the sale of TikTok's American arm.
According to experts, the involvement of the Murdochs in the deal is likely to be seen as a positive development by investors and regulators alike. "The Murdochs have a proven track record of successfully navigating complex deals," said one industry expert. "Their involvement in this deal suggests that it has a good chance of success."
As for what's next, Trump said that progress was being made on the deal, but details about the proposed acquisition remain unclear. The US government is expected to provide further updates on the status of the deal in the coming weeks.
In related news, TikTok's parent company ByteDance has been under pressure from regulators and investors to address concerns over data security and comply with US laws. The company has faced criticism for its handling of user data and has been accused of failing to comply with US regulations.
The proposed acquisition is seen as a major development in the ongoing saga surrounding TikTok's US operations. As one industry expert noted, "This deal has the potential to be a game-changer for TikTok's US operations and could pave the way for a new era of cooperation between the US and China on data security issues."
In conclusion, the proposed acquisition of TikTok's US operations by a group of investors led by the Murdochs is a significant development in the ongoing saga surrounding the social media platform. As details about the deal emerge, it remains to be seen how this will impact users, investors, and regulators alike.
Sources:
BBC Technology: "Murdochs likely to be involved in TikTok deal, Trump says"
BBC Business: "Murdochs likely to be involved in US TikTok deal, Trump says"
BBC Business: "Murdochs to Play Key Role in TikTok Deal, Trump Confirms"
This story was compiled from reports by BBC Technology, BBC Business and BBC Business.
