Trump's TikTok Rescue Mission: A Billion-Dollar Deal In The Works

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By Alan Hume | Monday, 27 January 2025 05:15 AM
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Image Credit : Fox Business via BrightCove

President Donald Trump is reportedly engaged in discussions with Oracle and other American investors to facilitate their acquisition of TikTok.

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This potential agreement emerges following the Supreme Court's decision to uphold legislation that mandates the app's ban unless its Chinese parent company, ByteDance, divests its stake.

As reported by The Post Millennial, the Trump administration is negotiating a new arrangement where ByteDance would retain a minor share. However, Oracle would assume responsibility for overseeing the algorithm, data collection, and software updates. The proposed terms suggest that American investors would hold the majority ownership of TikTok, although the specifics of the deal remain unsettled.

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"The goal is for Oracle to effectively monitor and provide oversight with what is going on with TikTok," a source familiar with the talks reportedly told NPR. "ByteDance wouldn't completely go away, but it would minimize Chinese ownership." Oracle's interest reportedly involves a stake valued in the "tens of billions."

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The Post Millennial further reported that officials from Oracle and the White House convened a meeting on Friday to discuss the potential deal, with another meeting planned for the following week. A congressional staffer involved in the negotiations emphasized, "A key part is showing there is no operational relationship with ByteDance, that they do not have control. There needs to be no backdoors where China can potentially gain access."

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In the lead-up to the Supreme Court's decision, which would enact the ban on January 19, President Trump was determined to ensure TikTok's continued availability in the United States. Upon taking office, he issued an executive order granting a 75-day extension to allow additional time for reaching a resolution. This move underscores the administration's commitment to safeguarding American interests while navigating complex international business dynamics.

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