The Trump administration is close to finalizing a deal that would save TikTok from being banned in the US. Under the proposed agreement, Oracle and a group of outside investors would take control of TikTok's global operations, while its China-based owner, ByteDance, would retain a minority stake. Oracle would oversee the app's algorithm, data collection, and software updates. American investors would own a majority stake, but the terms are still being negotiated.
WASHINGTON - The administration of US President Donald Trump is working on a plan to save TikTok that involves tapping software company Oracle and a group of outside investors to effectively take control of the app's global operations, National Public Radio reported on Saturday.
However, the report added that the terms of the deal could change and are still being hammered out."The goal is for Oracle to effectively monitor and provide oversight with what is going on with TikTok," a person directly involved in the talks but not authorized to speak publicly was quoted as saying by NPR."ByteDance wouldn't completely go away, but it would minimize Chinese ownership.
TIKTOK ORACLE INVESTORS CHINA UNITED STATES
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