A new TikTok deal could be on the horizon. While a 75-day reprieve has brought Donald Trump some time, the “ban or sell” law is still in place. Per the law, TikTok will be banned unless it cuts ties with Chinese parent company ByteDance. However, in conversation with Reuters journalists on Air Force One, the president claimed that a decision might be made on the app’s future in as quick as thirty days.
“Numerous people are talking to me, very substantial people, about buying [TikTok] and I will make that decision probably over the next 30 days. Congress has given 90 days,” he said. “If we can save TikTok, I think it would be a good thing.”
Trump Denies Oracle TikTok Deal
According to NPR, the Trump administration is trying to negotiate a deal between ByteDance and tech company Oracle. Oracle has been managing US TikTok users’ data for a while now, and this new deal would involve Oracle taking control over TikTok’s software updates, algorithm, and data collection.
While Oracle would be mostly overseeing the app, this deal would see ByteDance keeping a minority stake in the company.
The goal is for Oracle to effectively monitor and provide oversight with what is going on with TikTok,” an anonymous source told NPR. “ByteDance wouldn’t completely go away, but it would minimize Chinese ownership.”
However, when asked if he was pursing a deal with Oracle, Trump said, “No, not with Oracle.”
Other notable wannabe TikTok buyers include billionaire Frank McCourt and controversial YouTuber MrBeast.
