"Six of seven board seats for TikTok's US operations will be held by Americans, White House press secretary says. A deal between Washington and Beijing for the Chinese parent company of video-sharing app TikTok to sell its US operations would see the formation of an American-majority board, the White House has announced. There will be seven seats on the board that controls the app in the United States, and six of those seats will be Americans, White House Press Secretary Karoline Leavitt told Fox News on Saturday."
"It has been reported that Larry Ellison, the billionaire cofounder of tech firm Oracle, is part of an investor group whose companies are looking to buy the app. Leavitt on Saturday seemed to confirm Oracle's participation in purchasing TikTok. The data and privacy will be led by one of America's greatest tech companies, Oracle, and the algorithm will also be controlled by America as well, she told Fox News. So all of those details have already been agreed upon. Now we just need this deal to be signed."
"TikTok boasts about 175 million users in the US, making it one of the top five social media apps. However, the platform has been beset by controversies when lawmakers under the Joe Biden administration passed legislation to force the platform to divest itself of its ownership by the Chinese internet company ByteDance. Both Democrats and Republicans supported the legislation due to security concerns that Beijing could have access to TikTok data and could spread"
A proposed agreement would create an American-majority board to control TikTok's US operations, with six of seven board seats held by Americans. The transaction could be signed in the coming days. An investor group reportedly including Oracle is positioned to acquire the US operations, with Oracle leading data and privacy oversight and American control of the app's algorithm. TikTok has about 175 million users in the United States. Bipartisan legislation has aimed to force divestment of TikTok from ByteDance due to national security and data-access concerns related to Beijing.
Read at www.aljazeera.com
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