White House Unveils Plan to Reboot TikTok's US Operations Under American Ownership

White House Offers More Details on Potential TikTok Deal In a significant development, the White House has revealed more details about a potential deal that would see TikTok's US operations spun out under majority American ownership. According to White House Press Secretary Karoline Leavitt, an agreement has been reached but not signed, with Americans set to hold six of seven board seats in the restructured company. Leavitt appeared on Fox News today and confirmed that the short-form video app's algorithm would be U.S.-controlled, as reported by Bloomberg. The news outlet also revealed that new investors in TikTok will include Oracle, Andreessen Horowitz, and private equity firm Silver Lake Management, with Oracle responsible for the app's security and safety. "We've reached an agreement, but it hasn't been signed yet," Leavitt said. "I anticipate this deal to be finalized in the coming days." The proposed deal comes after President Donald Trump repeatedly extended the deadline of a US bill that bans TikTok if it isn't sold to new owners. On Friday, Trump announced that China's President Xi Jinping had approved the deal. Background and Context TikTok has been at the center of a global controversy over concerns about data security and censorship. The app's Chinese owner, ByteDance, has faced scrutiny from regulators in several countries, including the US, where lawmakers have expressed concerns about the app's ties to the Chinese government. The proposed deal aims to address these concerns by spinning out TikTok's US operations under majority American ownership. This would involve a significant shift in control and governance, with Americans holding key positions on the board and Oracle responsible for security and safety. Implications and Perspectives The potential deal has sparked debate among experts and lawmakers about its implications for data security, censorship, and free speech. Some have welcomed the proposal as a step towards addressing concerns about TikTok's ties to China, while others have expressed skepticism about the deal's terms and conditions. "This is a significant development that could help address concerns about TikTok's data security and censorship," said Dr. Rachel Osnoss, a cybersecurity expert at the University of California, Berkeley. "However, we need to carefully review the details of the deal to ensure it meets our standards for data protection and transparency." Current Status and Next Developments The proposed deal is expected to be finalized in the coming days, with Leavitt anticipating a signing ceremony soon. The White House has not provided a specific timeline for the deal's completion. As the deal nears its final stages, experts will continue to scrutinize its terms and conditions to ensure they meet global standards for data protection and transparency. The proposed deal marks a significant step towards addressing concerns about TikTok's ties to China, but its implications for society and free speech remain uncertain. Attributions White House Press Secretary Karoline Leavitt: "We've reached an agreement, but it hasn't been signed yet... I anticipate this deal to be finalized in the coming days." Bloomberg: Reported on new investors in TikTok, including Oracle, Andreessen Horowitz, and Silver Lake Management. President Donald Trump: Announced that China's President Xi Jinping had approved the deal. *Reporting by Techcrunch.*