TikTok’s U.S. spinoff appears to be nearing the finish line, with President Donald Trump signaling that some of the biggest names in media and tech could be part of the deal. In a weekend interview, Trump said Rupert Murdoch and his son Lachlan are “probably” set to join the investor group, adding that Oracle’s Larry Ellison and Dell Technologies CEO Michael Dell are also likely to be involved.
“A man named Lachlan is involved,” Trump said, referencing Lachlan Murdoch. “Rupert is probably gonna be in the group, I think they’re going to be in the group.” He did not clarify whether the participation would be personal or through corporate entities. Following his remarks, reports indicated that Fox Corp has been in talks to join the consortium backing the new U.S. entity.
According to the White House, the framework of the agreement is largely complete. Press Secretary Karoline Leavitt said an agreement has been reached—but not yet signed—that would spin off TikTok’s U.S. operations under majority American ownership. She added that Americans will occupy six of seven board seats and that the app’s recommendation algorithm will be controlled in the United States. “All of those details have already been agreed upon,” Leavitt said, predicting a signing in the coming days.
Additional details, reported by outlets citing senior administration officials, point to Oracle, Andreessen Horowitz, and Silver Lake Management as key investors, with Oracle taking point on the platform’s security and safety responsibilities. Under the proposed structure, ByteDance, TikTok’s current owner, would retain less than a 20% stake in the new company.
The deal follows months of uncertainty stemming from a federal bill passed last year that set the stage for a nationwide ban, triggering a January shutdown date just as Trump returned to office. The app briefly went dark in the United States before the administration granted repeated deadline extensions to allow ByteDance time to arrange a sale. Trump has since said that China’s President Xi Jinping approved the pending arrangement. TikTok publicly thanked both Xi and Trump “for their efforts to preserve TikTok in the United States,” while ByteDance stated it will follow applicable laws to keep the service available to Americans through TikTok U.S.
If finalized, the agreement would dramatically reshape TikTok’s governance and oversight in the United States. Majority American ownership, a U.S.-controlled algorithm, and U.S.-led security are designed to address longstanding concerns surrounding data handling and national control of the app’s core technology. The expected investor lineup—spanning enterprise software, venture capital, private equity, and media—also suggests a broad coalition aimed at stabilizing operations, restoring user confidence, and satisfying regulatory scrutiny.
What happens next? All eyes are on the signing timeline and any regulatory reviews that may follow. The composition of the board, the mechanics of algorithm control, and Oracle’s security remit will be closely watched to determine how quickly the new TikTok U.S. can operate independently and at full capacity. For creators and the app’s massive user base, the outcome could end months of stop-and-start uncertainty and provide a clearer path forward for advertising, partnerships, and product development.
Bottom line: The White House is framing the agreement as a win for American oversight and digital security, while the investor group—potentially including the Murdochs, Larry Ellison, and Michael Dell—positions TikTok U.S. for a fresh start under predominantly American control. With the framework agreed and signatures pending, a final decision may arrive within days.
