Fox Corp is reportedly in talks to join a group of investors backing a US spinoff of TikTok from ByteDance, following comments from President Donald Trump that Rupert Murdoch and Lachlan Murdoch may be involved.

Trump said Oracle executive chairman Larry Ellison and Dell Technologies CEO Michael Dell are also likely participants, but did not clarify if the involvement is personal or through their companies.

White House press secretary Karoline Leavitt said an agreement has been reached, but not yet signed, for TikTok’s US operations to be spun out under majority American ownership, with Americans holding six of seven board seats.

The short-form video app’s algorithm will reportedly be US-controlled.

Bloomberg reported that Oracle, Andreessen Horowitz, and Silver Lake Management will be among the new investors, with Oracle handling app security.

ByteDance is expected to retain less than 20% ownership of the new entity.

A federal bill had previously set a ban on TikTok in the US, but Trump extended the deadline for a sale.

🔗 Source: TechCrunch

Recent TikTok developments