**TikTok Encounters Another Deadline for Acquisition as U.S. Buyers Rush to Secure a Deal**
TikTok is once more against a ticking clock, with fewer than 75 days left to find a buyer and prevent another ban. This follows former President Donald Trump’s executive order that granted the widely-used video-sharing platform a temporary reprieve to finalize an agreement with a U.S.-based entity.
The Trump administration is actively facilitating negotiations between TikTok’s Chinese parent firm, ByteDance, and prospective American buyers. As per an NPR report, the existing proposal suggests that Oracle, a company specializing in business software, would oversee TikTok’s algorithm, data acquisition, and software upgrades. Other U.S. investors, including Microsoft, are also reportedly taking part in the discussions.
Nevertheless, ByteDance would not be completely out of the picture. The suggested agreement would permit the Chinese entity to maintain a minority interest in TikTok.
Despite the ongoing negotiations, Trump has refuted claims of a completed deal, asserting, “Numerous people are speaking with me, very significant people, regarding purchasing it.” He mentioned that a decision would be reached within the next 30 days. While circumstances continue to evolve, Trump has previously indicated a preference for Oracle to take charge of TikTok.
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### TikTok’s Countdown to Fulfillment
The most recent updates arrive just a week after TikTok temporarily went offline, following its removal from Apple and Google’s app stores. This action was in reaction to a bipartisan law enacted by President Joe Biden, which required TikTok to disengage from its China-based parent due to national security issues associated with the Chinese government.
Curiously, Trump, who initially pushed for TikTok’s ban during his first term, has adapted his position. After leveraging the platform during his successful 2024 election campaign, Trump pledged to negotiate a deal to “rescue” TikTok. Shortly after he took office, he signed an executive directive providing the app a 75-day extension to address its ownership challenges.
Although TikTok has since reinstated its service for users in the U.S., the app continues to be unavailable for download on Apple and Google’s app stores. This situation means TikTok cannot issue updates or fixes for its U.S. users, and individuals looking to reinstall the app or download it on a new device currently cannot do so.
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### Oracle’s Position in TikTok’s Future
Oracle has played a significant role in TikTok’s operations within the U.S. for a while. During Trump’s initial presidency, the company was seen as a leading candidate for acquiring TikTok when ByteDance faced pressure to divest the app. Although that particular deal ultimately did not materialize, Oracle did establish a partnership with TikTok to deliver cloud services for its U.S. data.
TikTok has since evolved into a considerable customer for Oracle, to the extent that the software giant warned a ban on TikTok would adversely affect its business. Microsoft, another prominent player in previous negotiations, is also reportedly partaking in the current discussions. However, Walmart, which was involved in earlier negotiations, has withdrawn this time, citing TikTok’s inflated asking price.
While the situation remains dynamic, Oracle seems to be Trump’s favored buyer. When asked recently if he would endorse Elon Musk acquiring TikTok, Trump replied that he was receptive to the idea but also mentioned, “I’d like Larry to buy it, too,” referring to Oracle’s billionaire founder Larry Ellison.
With the deadline approaching, TikTok’s fate in the U.S. hangs in the balance. A resolution is anticipated within the next 30 days.