Fox Corp. is in advanced discussions to join a consortium of investors preparing a bid for TikTok’s U.S. business, according to sources familiar with the negotiations.
The potential deal, first reported by Deadline, could mark a significant step in the reshaping of the social media landscape and place Rupert Murdoch’s media empire at the heart of one of Washington’s most politically charged corporate transactions.
President Donald Trump appeared to confirm speculation about the Murdochs’ role during an interview on Fox News’ The Sunday Briefing.
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“A man named Lachlan is involved,” Trump said, referring to Fox CEO Lachlan Murdoch. “Rupert [Murdoch] is probably gonna be in the group, I think they’re going to be in the group.”
He added that other “really great people, very prominent people” — whom he called “American patriots” — were also poised to participate.
The investment would reportedly come from Fox directly, not as a personal stake by Lachlan Murdoch or through News Corp., the family’s other media holding. For Lachlan, the move would come shortly after consolidating control of the Murdoch empire following Rupert’s step back into the role of chairman emeritus.
The consortium may also include Oracle chairman Larry Ellison and Dell Technologies CEO Michael Dell, both of whom have long been rumored to be weighing involvement. Ellison’s role is particularly notable: as one of the world’s richest men, he is also the key backer of Skydance Media, which recently acquired Paramount and is considering a bid for Warner Bros. Discovery. If the deal goes forward, Fox would join Ellison in making TikTok the second major entertainment-adjacent power bloc to align with the platform.
White House press secretary Karoline Leavitt confirmed that, under the deal, the U.S. would assume control of TikTok’s algorithm, a centerpiece of the national security debate. Oracle, already providing cloud services to TikTok, would manage American user data. A new seven-member board, with six American appointees, would oversee TikTok U.S.
Beijing Offers Qualified Approval
The talks follow a Friday call between Trump and Chinese President Xi Jinping. Trump later hinted that Xi had given the green light for a deal, suggesting a rare moment of alignment between Washington and Beijing. A statement from China’s state-run news agency Xinhua underscored Beijing’s position: “The Chinese government respects the will of companies and is pleased to see companies conduct business negotiations on the basis of market rules and reach solutions that comply with Chinese laws and regulations and balance interests.”
The readout added a pointed reminder that Beijing expects Washington to “provide an open, fair, and non-discriminatory business environment for Chinese companies investing in the United States.”
A Long Battle Over TikTok’s Future
The maneuvering comes against the backdrop of years of tension over TikTok’s Chinese ownership by ByteDance. U.S. lawmakers and national security officials have repeatedly raised alarms over data privacy and influence operations on the app, which has more than 170 million American users.
In late President Joe Biden’s term, Congress passed and the Supreme Court upheld a law requiring ByteDance to sell TikTok’s U.S. operations or face a nationwide ban. Trump, after returning to office, declined to enforce the divestiture deadline and has instead issued four extensions to allow negotiations to progress. His latest remarks suggest he is eager to present the eventual deal as a victory for both national security and American business.
However, a successful stake in TikTok, for Fox, would represent a bold step beyond traditional media into the global short-video market, positioning it alongside tech titans in shaping the future of social entertainment. The deal is expected to deliver a high-profile resolution to one of Washington’s thorniest tech-national security battles — and allow him to frame the arrangement as a triumph of American enterprise over foreign influence.