The Trump administration is touting a deal that will prevent the popular social media app TikTok from going dark, while wrestling it from Chinese control.
President Donald Trump is expected to sign an executive order this week that will give American investors and China-based ByteDance 120 more days to seek necessary regulatory approvals and close a deal.
Here’s what to know:
New Joint Venture Will Be Majority American Owned
Senior White House officials confirmed on Monday that U.S. cloud company Oracle will be among the investors, as well as private equity firm Silver Lake.
Speaking to Fox News on Sept. 22, the president said media moguls Lachlan and Rupert Murdoch will likely have a role, as well as Michael Dell, founder of Dell Technologies, and Oracle co-founder Larry Ellison. He said that all of the new would-be investors are “patriotic” Americans….