The Trump administration is negotiating a deal that will see Oracle take over TikTok alongside new U.S. buyers, in line with a report in NPR.
Lawmakers handed a invoice final 12 months forcing Chinese language father or mother firm ByteDance to both promote TikTok or see it banned within the U.S. The app briefly went darkish earlier than the legislation took impact on January 20 — till incoming President Donald Trump mentioned he would concern an government order delaying the ban.
On the time, Trump additionally outlined his “preliminary thought” on a deal to save lots of TikTok — creating “a three way partnership between the present homeowners and/or new homeowners whereby the U.S. will get a 50% possession.”
NPR’s reporting suggests {that a} deal is now shaping up the place Oracle would take management of TikTok’s world operations whereas ByteDance retains a minority stake.
Trump tried to drive TikTok to promote throughout his first time period, with Oracle rising as a possible purchaser. Whereas that didn’t occur, TikTok later mentioned it shifted all its U.S. site visitors to Oracle servers. And at a press convention on Tuesday, Trump mentioned he’d be open to both X proprietor Elon Musk or Oracle chairman Larry Ellison shopping for the app.
In the meantime, among the senators who supported the ban-or-sell invoice have expressed confusion about Trump’s plans and mentioned the legislation requires ByteDance to totally divest.
