Imminent Resolution for TikTok's Sale in the United States
As the April 5 deadline approaches, President Trump's administration is finalizing plans for a new entity called 'TikTok America.'
As the April 5 deadline looms, the future of TikTok in the United States appears to be taking shape.
President Donald Trump is working to prevent a ban of the popular social media platform, which has approximately 170 million users in the U.S. On Wednesday evening, following a presentation of measures under his 'liberation day' initiative, Trump held a meeting with key advisors, including Vice President JD Vance, Secretary of Commerce Howard Lutnick, and intelligence head Tulsi Gabbard, to validate a proposed acquisition plan that may be presented to TikTok's Chinese shareholders.
The plan backed by Trump would give rise to a new entity named 'TikTok America,' with 50% of its capital to be held by American investors.
Reports indicate that around ten investors have come together under the leadership of Oracle, whose CEO Larry Ellison has close ties to Trump.
This group includes current shareholders of ByteDance, TikTok's parent company.
With these developments, the acquisition scenario is rapidly evolving as the deadline approaches, highlighting the complexities surrounding national security and foreign ownership in social media.
President Donald Trump is working to prevent a ban of the popular social media platform, which has approximately 170 million users in the U.S. On Wednesday evening, following a presentation of measures under his 'liberation day' initiative, Trump held a meeting with key advisors, including Vice President JD Vance, Secretary of Commerce Howard Lutnick, and intelligence head Tulsi Gabbard, to validate a proposed acquisition plan that may be presented to TikTok's Chinese shareholders.
The plan backed by Trump would give rise to a new entity named 'TikTok America,' with 50% of its capital to be held by American investors.
Reports indicate that around ten investors have come together under the leadership of Oracle, whose CEO Larry Ellison has close ties to Trump.
This group includes current shareholders of ByteDance, TikTok's parent company.
With these developments, the acquisition scenario is rapidly evolving as the deadline approaches, highlighting the complexities surrounding national security and foreign ownership in social media.
