Reported about 6 hours ago
According to the Wall Street Journal, a consortium led by Oracle and Silver Lake is poised to take control of 80% of TikTok's U.S. operations, as a deal between the U.S. and China is nearing completion. A new company will be formed to manage TikTok, with a predominantly American board and U.S. investors holding the majority stake. Users will transition to a new app developed by TikTok, while Oracle will manage user data in Texas. The terms of the agreement are still being finalized.
Source: YAHOO