White House in talks to have Oracle, US investors take over TikTok, NPR reports
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.
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Under the deal being negotiated by the White House, TikTok's China-based owner, ByteDance, would retain a minority stake in the company, but the app's algorithm, data collection and software updates would be overseen by Oracle, which already provides the foundation of TikTok's Web infrastructure, NPR reported.
The NPR report cited two people with knowledge of the talks. The White House and Oracle had no immediate comment.
The short video app used by 170 million Americans was taken offline temporarily for users shortly before a law that said it must be sold by its Chinese owner ByteDance on national security grounds, or be banned, took effect on Jan. 19.
Trump, after taking office a day later, signed an executive order seeking to delay by 75 days the enforcement of the law that was put in place after U.S. officials warned that under ByteDance, there was a risk of Americans' data being misused.
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