California Gov. Gavin Newsom (D-Calif.) on Monday accused Republicans of "buying up platforms to control the news and information you receive," hours after President Donald Trump said tech and media moguls Larry Ellison, Michael Dell and Rupert and Lachlan Murdoch are poised to help take over TikTok's U.S. algorithm as part of a pending deal.
Gavin Newsom Flags GOP Influence In TikTok Deal
"This should not be treated lightly. The GOP are buying up platforms to control the news and information you receive. They are censoring you in real time," Newsom wrote on X, reposting a FactPost item that stated, "Reporter: Trump now says the tech billionaires Larry Ellison and Michael Dell plus the Murdochs could be part of the TikTok deal."
Trump Names Ellison, Dell, Murdochs In TikTok Consortium
Trump previewed the investor lineup on Fox News' ‘Sunday Briefing,’ saying, "You know, they're very well-known people. And Larry Ellison is one of them. He's involved. He's a great guy. Michael Dell is involved. I hate to tell you this, but a man named Lachlan is involved," adding that Rupert Murdoch "is probably going to be in the group."
Fox Role, Oracle Oversight, Board Control Outlined
People familiar with the talks told CNN that any Murdoch role would likely come through Fox Corp. (NASDAQ:FOX), not the family investing personally, a move that could dovetail with Fox's push into digital media amid softness in broadcast TV.
The White House over the weekend has said the emerging agreement would put Americans in six of seven TikTok U.S. board seats, with Oracle Corp. (NYSE:ORCL) overseeing data and privacy and receiving a licensed copy of the recommendation algorithm to retrain on U.S. data, details officials say address national-security concerns while keeping the app running.
Newsom's reaction comes as the administration says negotiations with Beijing are advancing. Trump has repeatedly argued the arrangement would leave TikTok majority-owned and governed in the United States, while critics warn that consolidating influence among a small set of media and tech titans could shape online speech and news consumption.
Price Action: According to data from Benzinga Pro, FOX shares closed higher by 2.69% to $56.02 on Monday. The stock has a 52-week high of $57.02 and a 52-week low of $37.32. Benzinga Edge Stock Rankings data affirms a core strength for Fox, highlighting a robust Growth score of 96.06 and an overall positive Price Trend. Check here to understand how the stock performs on other metrics.
Read Next:
Photo Courtesy: Sheila Fitzgerald on Shutterstock.com
