Trump to sign TikTok deal tomorrow.
– A source familiar with the White House says that US President Donald Trump will sign the deal to sell TikTok tomorrow (Thursday).
TikTok’s future in the US has been in limbo for more than a year, but the Trump administration has been saying since last week that a deal is on the way.
White House officials announced on Monday that US software company Oracle is set to acquire TikTok’s algorithm under a deal. In fact, in a new agreement that will soon be signed between TikTok and Oracle, the US company Oracle will be responsible for monitoring and managing the data of US users of TikTok. Oracle’s responsibility will also include the algorithm and the group is supposed to offer content to users independently of TikTok’s parent company ByteDance. In this agreement, the Chinese company ByteDance will take less than 20% of the new company’s shares and will not have access to the data of US users.
Other companies besides Oracle could join the deal. Trump said in an interview with Fox News on Sunday that media mogul Rupert Murdoch and his son Lachlan, the CEO of Fox, could be part of the deal. The US president also said that Michael Dell, the CEO of computer maker Dell, is also involved in the deal.