The Trump administration announced a deal to bring TikTok under U.S. ownership, allowing Oracle to oversee American user data and manage the app's recommendation algorithm. This move aims to prevent a ban on the popular platform by licensing the algorithm from its Chinese parent company to an American investor group.

President Trump confirmed a $14 billion deal for TikTok that allows US companies, including Oracle and Michael Dell, to control the app’s content algorithm. This agreement is part of a national security provision requiring TikTok's divestiture from its Chinese parent company, ByteDance. The deal follows Trump's earlier attempts to ban TikTok due to national security concerns.

A deal has been reached to keep TikTok operating in the US, with President Trump announcing that a consortium of American investors will control its US operations. The agreement, which includes tech company Oracle, aims to address national security concerns over data sharing with China, while allowing TikTok to continue using licensed algorithms from its parent company, ByteDance. The deadline for the sale has been extended to December 16.

Larry Ellison and his son David are positioning themselves to control a significant media empire, including CBS, Paramount, Warner, CNN, and a stake in TikTok following a regulatory push for ByteDance's divestiture. With Ellison's financial power and connections to Trump, they are uniquely poised to navigate current media consolidation trends.

A coalition of buyers for TikTok is set to include major tech firms such as Oracle and Silver Lake, alongside venture capitalist Marc Andreessen. This group aims to explore a potential acquisition of the popular social media platform, which has faced scrutiny over its data privacy practices and national security concerns. The involvement of these influential companies signals strong interest in TikTok's future amidst ongoing regulatory challenges.

President Trump signed an executive order approving a deal that allows TikTok to continue operating in the U.S., requiring China-based ByteDance to sell its U.S. operations. The new arrangement involves a joint venture with major investors like Oracle and Silver Lake, while ByteDance retains a minority stake. The deal is subject to Chinese government approval and aims to address national security concerns.