A “Framework” For the Sale Of TikTok Is In Place
It looks like TikTok might survive after all. The deadline for its parent company in China to sell to someone in the U.S. is this Friday. But the White House announced the “framework” of a deal is in place, and it could be finalized this week.
Insiders think Oracle founder Larry Ellison is involved. TikTok has been on the chopping block for years now over worries China could use it to track Americans.
Congress passed a bill last year that said ByteDance had to sell to a U.S. company or face a ban. The original deadline was January 19th, and TikTok DID briefly disappear from the App Store. But the deadline was extended to April, then June, then September. The new ban was supposed to take effect this Friday, but it sounds like that won’t be happening.
The White House said the “framework” of a deal is in place, and it could be finalized by the end of the week.