The administration of U.S. President Donald Trump is working on a plan to save TikTok that involves tapping software company Oracle and a group of outside investors to effectively take control of the app's operations, according to two people with knowledge of the discussions.
Under the deal being negotiated by the White House, TikTok's China-based owner, ByteDance, would retain a stake in the company, but data collection and software updates would be overseen by Oracle, which already provides the foundation of TikTok's Web infrastructure, one of the sources said.
The terms of the deal are fluid, the sources said, and are likely to change. One source said the full scope of the discussions was not yet set and could include the U.S. operations as well as other regions.
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