Even with the TikTok divest-or-ban law officially in effect since January, the app has only shutdown service in the US for one day. Now, The Information reports that an agreement for a sale satisfying the law’s requirement is close and would come with a new, separate version of the app, The Verge reported.
Any deal, however, would need approval from the Chinese government, which is also still wrangling with the Trump administration over tariffs.
The outlet reports that Trump administration says it’s close to working out a sale to a group of “non-Chinese” investors, including Oracle, with the current majority owner ByteDance maintaining a minority stake that would satisfy the terms of the Protecting Americans from Foreign Adversary Controlled Applications Act.
Earlier today, the Wall Street Journal reported that the General Services Administration says Oracle has reached a new agreement with the federal government that “is the first of its kind that provides the entire government with a discount on cloud infrastructure.” With a 75 percent discount on licensed software.
Apple Insider reported: Users of TikTok in the US will eventually need to migrate to the new version of the app, through the company reports that the present version is expected to work until March 2026. The unusual update will enable the new app to address security concerns, and allow the new owners of the US version to take control.
A consortium of non-Chinese tech firms are expected to buy TikTok’s US operations. Among those involved in the deal is US-based firm Oracle, through original owner Bytedance will retain a minority interest, according to The Information.
Users in the United States will be required to install the new version of the app in order to continue accessing the service. The current US version will stop working in March 2026 if they do not update.
The dilemma for the Chinese-owned social service originally came during later days of the Biden Administration. Acting on concerns about US user data being stored, Congress passed a law requiring Bytedance either sell TikTok or face a US ban of the app and its service.
Reuters reported: U.S. President Donald Trump said in Friday that he will start talking to China on Monday or Tuesday about a possible TikTok deal.
He said the United States “pretty much” has a deal on the sale of TikTok short-video app.
“I think we’re gonna start Monday or Tuesday… talking to China, perhaps President Xi or one of his representatives, but we pretty much have a deal,” Trump told reporters on Air Force One.
Last month, Trump extended to September 17 a deadline for China-based ByteDance to divest the U.S.-based firm, majority-owned and operated by U.S. investors, but it was put on hold after China indicated it would not approve it following Trump’s announcement of steep tariffs on Chinese goods.