Overview

• White House officials say a framework would leave TikTok majority-owned by Americans with six of seven U.S. board seats and Oracle overseeing data, security and privacy.
• Reuters reports ByteDance would retain under 20% of the new U.S. venture that would control TikTok’s American operations.
• Trump said Rupert and Lachlan Murdoch, Larry Ellison and Michael Dell are likely participants, with multiple outlets reporting any Murdoch-linked stake would come through Fox Corp.
• The administration says an agreement could be signed once details are finalized, after Trump discussed the matter with China’s Xi Jinping in a recent call.
• Congress passed a 2024 law requiring ByteDance to divest TikTok’s U.S. business or face a ban, and enforcement has been extended while negotiations proceed for an entity serving roughly 170 million U.S. users.