The TikTok divest-or-ban law has been in effect since January, yet the app only ceased U.S. services for one day. An agreement for a sale nearing completion would involve a new version of TikTok, pending Chinese government approval. The Trump administration is moving towards a deal with non-Chinese investors, including Oracle, which aims to allow ByteDance to maintain a minority stake. Furthermore, TikTok is preparing to launch a new version called M2, set for release on September 5th, with plans for the original app to discontinue by March 2026.
According to The Information's unnamed source, under the current timeline, the original TikTok app would leave app stores as the new one launches and then stop working entirely in March 2026.
The outlet reports that the Trump administration says it's close to working out a sale to a group of "non-Chinese" investors, including Oracle.
Even with the TikTok divest-or-ban law officially in effect since January, the app has only shut down service in the US for one day.
TikTok's staff is reportedly working on a new version of the app - dubbed M2, to the current app's internal M designation - for release in app stores on September 5th.
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