White House Press Secretary Karoline Leavitt appeared on Fox News today and said that a deal was reached that was spun under Tiktok’s US business under Tiktok’s US ownership, but it has not been signed.
Leavitt said Americans will hold six of the seven board seats in the rebuilt Tiktok, and Bloomberg said the algorithm for the short video app will be US controlled.
“So all these details have already been agreed, and now we need to sign this transaction.
Bloomberg also reports that a senior White House official has said that Tiktok’s new investors include Oracle, Andreesen Horowitz and private equity firm Silver Lake Management, with Oracle being responsible for the security and safety of the app. The current owner’s ordinance reportedly owns less than 20% of the spinned companies.
President Donald Trump has repeatedly extended the deadline for a US bill banning Tiktok if it is not sold to new owners. He said on Friday that Chinese President Xi Jinping approved the deal.
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