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2d ago

U.S., China Agree on TikTok Framework as Trump Extends Deadline to December 16

The new extension gives negotiators time to finalize a U.S.-led takeover structure designed to address national‑security concerns over data and the recommendation algorithm.

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FILE - The TikTok Inc. building is seen in Culver City, Calif., March 17, 2023. (AP Photo/Damian Dovarganes, File)
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Figurines with computers and smartphones are seen in front of Oracle logo in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

Overview

  • Officials say the framework would shift TikTok’s U.S. assets to an American investor consortium, with The Wall Street Journal reporting roughly 80% U.S. ownership including Oracle, Silver Lake and Andreessen Horowitz.
  • Sources cited by Reuters and other outlets say ByteDance would retain a stake just under 20%, keeping within the limits set by the 2024 divest‑or‑ban law.
  • CNBC reports Oracle would continue managing U.S. user data under the arrangement, while a senior Chinese cyber official said Beijing is open to licensing TikTok’s algorithm and related IP for U.S. use.
  • The White House set a new enforcement deadline of Dec. 16 in an executive order, marking a fourth extension as the sides target final confirmation in a Trump–Xi call on Friday.
  • Media reports describe a prospective 30–45 day closing timeline and a U.S.-dominated board for the new entity, with further legal and regulatory reviews still required and some details not independently verified.