The Trump administration is negotiating a deal that might see Oracle take over TikTok alongside new U.S. traders, based on a report in NPR.
Lawmakers handed a invoice final 12 months forcing Chinese mother or father 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 challenge an govt order delaying the ban.
At the time, Trump additionally outlined his “initial thought” on a deal to save lots of TikTok — creating “a joint venture between the current owners and/or new owners whereby the U.S. gets a 50% ownership.”
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 pressure TikTok to promote throughout his first time period, with Oracle rising as a possible purchaser. While that didn’t occur, TikTok later mentioned it shifted all its U.S. 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.
Meanwhile, a few of 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.
