Oracle, Silver Lake, and Andreessen Horowitz consortium to control US TikTok entity
Oracle is indeed part of an upcoming deal for a US spin-off of TikTok, The Wall Street Journal reports, as a member of a consortium that also includes Silver Lake and Andreessen Horowitz.
The US and China are finalizing the framework for a deal that would create a new US entity, with American investors holding a roughly 80% ownership stake. The remaining 20% would be owned by Chinese investors.
Under the current structure for a deal, US users would have to download and use a new app, which TikTok is now testing.
The entity would have a largely American board, including one member nominated by the US government, the WSJ reports.
CBS earlier today had reported that Oracle would be part of the deal.
Bloomberg is reporting that President Trump has extended the deadline for a deal until December 16.
Under the current structure for a deal, US users would have to download and use a new app, which TikTok is now testing.
The entity would have a largely American board, including one member nominated by the US government, the WSJ reports.
CBS earlier today had reported that Oracle would be part of the deal.
Bloomberg is reporting that President Trump has extended the deadline for a deal until December 16.
