"Under the known terms of the deal, which Trump declared has the tentative buy-in of Chinese president Xi Jinping, TikTok in the US would get a new group of US investors, led by the US software giant Oracle, which would license TikTok's vaunted recommendation algorithm and take over its security. Among the other investors, Trump said in a Fox News interview on Sunday, are media mogul Rupert Murdoch and his son Lachlan, the CEO of Fox Corporation."
"Lachlan Murdoch, the 54-year-old son of 94-year-old Rupert, is executive chair and chief executive officer of Fox Corporation, the parent company of Fox News. The Murdoch scion took control of the company following a September legal settlement with his siblings, one of whom, James, reportedly no longer wants anything to do with his father's conservative empire. The deal for TikTok will likely involve Fox's parent company investing, rather than Rupert or Lachlan individually, CNN reported."
The US and China are reportedly close to an agreement allowing TikTok to continue operating in the United States under new U.S. investors and governance. Oracle would lead the investor group, license TikTok's recommendation algorithm, and assume responsibility for security. Named additional investors include Rupert Murdoch, Lachlan Murdoch, and Michael Dell. TikTok's U.S. operation would receive a seven-member board with six Americans, creating potential seats for Murdoch and Ellison family members. The arrangement would place major media and tech figures in positions to influence a dominant social platform, concentrating significant media power.
Read at www.theguardian.com
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