The Trump administration is negotiating a deal that would involve Oracle and new American investors in the acquisition of TikTok, according to an NPR report. The news was also covered by TechCrunch.
Last year, U.S. lawmakers passed a bill that required the Chinese parent company, ByteDance, to either sell TikTok or face a ban in the United States. Before the law came into effect, the app was briefly shut down on January 20. However, President Donald Trump announced a temporary suspension of the ban through an executive order.
At that time, Trump shared his initial idea for saving TikTok—a joint venture in which the U.S. would hold a 50% stake, with current and new owners participating.
According to NPR, the deal could now involve Oracle taking control of TikTok’s global operations, with ByteDance remaining a minority shareholder.
Trump had attempted to force TikTok’s sale during his first term, with Oracle emerging as a potential buyer. Although this plan was not implemented, TikTok later confirmed that it had transferred all of its U.S. traffic to Oracle’s servers.
During a press conference on Tuesday, Trump stated that he was open to the idea of someone like former Twitter CEO Elon Musk or Oracle chairman Larry Ellison acquiring TikTok.
Meanwhile, some senators who supported the ban or sale bill expressed confusion over Trump’s plan and noted that the law requires ByteDance to fully transfer ownership.
