Oracle to control TikTok’s algorithm in the U.S. after sale’s completion
(CNN, KYMA) - A senior White House official says Oracle will control TikTok's algorithm for U.S. users after the sale is completed.
That detail had been one of the big outstanding questions as the White House pushes ahead to finalize the TikTok deal. If completed, the deal will transfer control of TikTok's U.S. operations to a new joint venture based in the U.S.
The investors will include Oracle and the private equity firm Silver Lake.
Over the weekend, President Donald Trump said Michael Dell and Rupert and Lachlan Murdoch may also be part of the new ownership group.
TikTok's parent company, ByteDance, will retain a less than 20% stake in TikTok U.S. following the deal.
The White House also says President Trump will sign an executive order later this week saying the deal fulfills the requirements of the ban-or-sale law Congress passed last year.
