The Trump administration is negotiating a deal where Oracle and a group of investors would take control of TikTok's operations. ByteDance, TikTok's Chinese owner, would retain a stake but data collection and software updates would be overseen by Oracle. The deal aims to address national security concerns about the app.
This is AI generated summarization, which may have errors. For context, always refer to the full article.Dado Ruvic/ReutersTikTok's management will remain in place, to operate the short video app, according to one of the sources
The terms of the deal are fluid, the sources said, and are likely to change. One source said the full scope of the discussions was not yet set and could include the US operations as well as other regions. Representatives for TikTok, ByteDance investors General Atlantic, KKR, Sequoia and Susquehanna could not immediately be reached for comment.
TikTok’s management would remain in place, to operate the short video app, according to one of the sources. Officials from Oracle and the White House held a meeting on Friday about a potential deal, and another meeting has been scheduled for next week, NPR reported.
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