NPR reports:
The Trump administration 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, according to two people with direct knowledge of the talks.
Under the deal now 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 will be overseen by Oracle, which already provides the foundation of TikTok’s web infrastructure.
That would effectively mean American investors would own a majority stake in TikTok, but the terms of the deal could change and are still being hammered out.
Read the full article. Oracle chief and Trump megadonor Larry Ellison is already leading an investor group seeking to purchase Paramount Global, the parent company of CBS and dozens of other media properties, which would then be run by Ellison’s son.
“Exclusive: White House in talks to have Oracle and U.S. investors take over TikTok” www.npr.org/2025/01/25/g…
— Social Media Lab (@socialmedialab.ca) January 25, 2025 at 5:42 PM