Overview

• In a Fox News interview, President Trump named Rupert and Lachlan Murdoch, Michael Dell and Larry Ellison as likely participants in the U.S. investor consortium for TikTok’s American operations.
• A White House official said the expected structure would leave ByteDance with under 20% ownership, with Americans holding a majority stake and six of seven U.S. board seats.
• Oracle is designated to oversee TikTok’s U.S. data, security and privacy under the proposed arrangement, according to the White House.
• Reports indicate any Murdoch involvement would be through Fox Corp., not personal investments by Rupert or Lachlan Murdoch.
• The agreement remains unsigned after Trump’s call with China’s Xi Jinping, with U.S. and Chinese officials working toward final terms by Dec. 16 and still requiring Chinese approval.