"I hate to tell you this, but a man named Lachlan is involved. Lachlan is, that's a very unusual name, Lachlan Murdoch,"
"And Rupert is probably going to be in the group. I think they're going to be in the group."
"Under the deal, Americans would hold six of the seven board seats for TikTok, the app's algorithm would be controlled in the US and Oracle would act as TikTok's security provider and monitor the app for safety, working with the US government."
U.S. investors led by Oracle, Andreessen Horowitz and Silver Lake will majority‑own TikTok's U.S. operations, with ByteDance retaining less than 20% to meet a new divestment law. The arrangement was finalized in a phone call between U.S. and Chinese leaders and is expected to be signed in coming days. Americans would hold six of seven TikTok board seats, U.S. control the app's algorithm, and Oracle will act as security provider to monitor safety and work with the U.S. government. Fox Corp. is expected to be involved rather than the Murdochs individually.
Read at Fortune
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