00:00Welcome back. Tech giant Oracle is set to take the lead in overseeing TikTok's algorithm and security under a deal brokered by the Trump administration.
00:10President Donald Trump is expected to issue an executive order later this week that declares the terms of the deal meet the security concerns laid out by the law.
00:21Under the plan, TikTok's US arm would be controlled by a group of American and international investors,
00:26while its Chinese parent ByteDance would keep less than a 20% stake.
00:31According to a White House official, Oracle would head the venture, likely alongside Silver Lake Partners, with talks also involving Rupert Murdoch and Michael Dell.
00:41The United States government itself would not take a stake or bought seat.
00:46The deal still needs regulatory clearance and Beijing's approval.
00:50TikTok has around 170 million users in the United States and Congress has ordered the app to shut down there by January 2025 unless its American assets are sold.
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