Fox Corporation is in active talks to join a consortium of investors working to acquire TikTok’s U.S. business, according to multiple sources close to the negotiations. The potential deal comes as Washington ramps up pressure on ByteDance, TikTok’s Chinese parent company, to divest its American arm over ongoing national security concerns.
For Fox, the timing is significant. Lachlan Murdoch, now firmly at the helm of the Murdoch media empire following Rupert Murdoch’s step back, is steering the company into a deal that would expand its footprint into digital and social media. Importantly, the investment would be made through Fox itself rather than as a personal stake from Lachlan Murdoch or via News Corp.
Political Backing From Trump
President Donald Trump, who has long been vocal about TikTok’s risks, acknowledged the Murdochs’ involvement during an appearance on Fox News’ The Sunday Briefing. While Trump did not go into detail about Fox’s precise role, he confirmed that Lachlan Murdoch’s name had surfaced in discussions around the investor group.
Trump has framed the acquisition effort as not just a business transaction but a matter of national interest, stressing the importance of having U.S.-based investors oversee TikTok’s American operations. His administration has been leading the push to ensure U.S. control of the platform’s algorithm and data storage.
Tech Titans Lining Up
Fox is not alone in the consortium. Oracle co-founder Larry Ellison and Dell Technologies CEO Michael Dell are both believed to be in the mix. Ellison’s potential involvement comes as no surprise—Oracle already manages TikTok’s U.S. user data through its cloud services.
Ellison, among the world’s wealthiest individuals, has also deepened his role in media investments by backing Skydance Media. Skydance recently acquired Paramount and is reportedly exploring further expansion into Warner Bros. Discovery. With Ellison and Fox both circling TikTok, the platform could soon have two major media powerhouses as part of its future.
U.S. to Control TikTok Algorithm
The White House reinforced its position on TikTok’s future over the weekend. Press secretary Karoline Leavitt confirmed that the U.S. would take direct control of the app’s algorithm under the new deal framework. Oracle would remain in charge of overseeing and securing American user data, ensuring continuity with existing safeguards already in place.
This step addresses a critical sticking point in Washington: concerns that TikTok’s recommendation system could be manipulated or used as a tool of influence by Beijing. Officials have consistently warned that the algorithm is as much a matter of national security as the data itself.
Board Structure and Oversight
Under the proposed deal, TikTok’s U.S. operations would be governed by a seven-member board, six of whom would be American citizens. The structure is designed to reassure policymakers that day-to-day management will remain firmly under U.S. oversight.
The announcement came shortly after a direct call between President Trump and Chinese President Xi Jinping. While details of the conversation were not made public, the timing suggested both leaders had acknowledged at least a preliminary path toward resolving the dispute.
China Signals Cautious Support
Beijing’s response has been measured but not obstructive. In a readout from China’s state-run Xinhua news agency, officials stated that the government respects the ability of companies to negotiate within market rules, provided agreements comply with Chinese laws.
The message, though carefully worded, hinted that China may allow ByteDance to proceed with the sale, as long as its regulatory requirements are met. It also called on the U.S. to ensure a fair and non-discriminatory environment for Chinese companies operating in America—an indirect reminder of Beijing’s concerns about Washington’s actions.
Years of Uncertainty
TikTok’s future in the United States has been in question for years. With more than 170 million American users, the app has grown into a cultural phenomenon but also a geopolitical flashpoint. Lawmakers across both parties have argued that Chinese ownership poses unacceptable risks, citing fears of surveillance, censorship, and influence over American discourse.
Congress passed legislation requiring ByteDance to divest TikTok or face a ban. The Supreme Court upheld the law during President Joe Biden’s administration. Yet the actual enforcement has been slow. Since returning to office, Trump has extended the divestiture deadline multiple times, citing the complexity of negotiations. Four extensions have already been granted.
