In a surprising announcement, President Trump disclosed that Lachlan Murdoch, the executive at the helm of Fox Corp. and News Corp, might be part of a select group of U.S. investors looking to acquire a major stake in TikTok’s operations across the United States, as the New York Post reports.

Trump revealed this during a recent Fox News interview, detailing a significant deal involving prominent figures from tech and media sectors, with a fast-approaching deadline driven by national security concerns.

This statement emerged during an appearance on The Sunday Briefing on Fox News, an interview that was taped on Friday and subsequently aired to the public on Sunday morning.

High-profile investors target TikTok

In his remarks, Trump pointed out that Lachlan Murdoch could join an esteemed lineup of investors, which also includes well-known technology leaders like Larry Ellison, who heads Oracle, and Michael Dell, the founder of Dell Technologies.

He expressed high regard for these individuals, characterizing them as exceptional and widely respected people who are profoundly dedicated to the interests of their nation.

Trump implied that their involvement could bring a strong sense of American oversight to the immensely popular video-sharing platform that has millions of users nationwide.

Security issues at transaction's core

The motivation behind this potential acquisition stems from ongoing apprehensions regarding national security, largely due to TikTok’s ownership by ByteDance, a company based in China.

Under current U.S. legislation, ByteDance is obligated to divest its control over TikTok’s American branch or face a complete prohibition from operating within the country, a mandate that Trump has postponed enforcing on four separate instances.

The latest extension of this critical deadline is established for Dec. 16, creating a narrow timeframe for negotiators to finalize the specifics of any prospective agreement.

Top-level talks shape deal's future

On Friday, Trump engaged in a pivotal phone discussion with Chinese President Xi Jinping, focusing on the complex challenges surrounding the possible shift in TikTok’s ownership to American hands.

Following this high-level conversation, White House press secretary Karoline Leavitt provided further clarity on Saturday, stating that a planned oversight board for TikTok would predominantly feature American representation, with six of the seven available seats designated for U.S. nationals.

Leavitt also elaborated that Oracle, under the leadership of Ellison, would assume responsibility for managing the app’s data safeguards and security protocols if the proposed deal advances to completion.

Investor insights, anticipated impact

Trump conveyed enthusiasm about the prospective investor group, remarking, “I think they’re going to be in the group. A couple of others. Really great people, very prominent people.”

He went on to say, “And they’re also American patriots, you know, they love this country. I think they’re going to do a really good job.”

Furthermore, there is speculation that Rupert Murdoch, Lachlan’s father and the former longtime overseer of both Fox and News Corp, might also play a part in this endeavor, though detailed information about his potential involvement remains undisclosed at this time. A source familiar with the situation indicated that Lachlan’s participation would likely be associated with Fox’s strategic interests, while official responses from Oracle and Dell Technologies regarding their roles in the transaction are still awaited as discussions continue.