This Tuesday, Feb. 25, 2020 photo shows the icon for TikTok taken in New York. From the perspective of teens flooding onto TikTok, the Chinese-owned online video app is a major new outlet for self-expression, one proudly home to the silly, the loud and the weird. To others, though, the service is an unnerving black box that could be sharing information with the Chinese government, facilitating espionage, or just promoting videos and songs some parents consider lewd. (AP Photo)
This Tuesday, Feb. 25, 2020 photo shows the icon for TikTok taken in New York. From the perspective of teens flooding onto TikTok, the Chinese-owned online video app is a major new outlet for self-expression, one proudly home to the silly, the loud and the weird. Associated Press
Herb Scribner
By Herb Scribner

Oracle has emerged as a leading candidate to buying TikTok’s operations in the U.S., Canada, Australia and New Zealand.

Oracle is reportedly working on a deal with the app’s parent company, Byte Dance, per CNBC.

“Oracle’s talks to acquire TikTok’s operations in four countries are ongoing and have accelerated in recent days, the person said, and it and Microsoft are far ahead of any other companies that have expressed interest.”

Rumors suggest the cost could be around $30 billion, according to Social Media Today.

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Sequoia Capital and General Atlantic have been linked to formulate a group bid for the app, too, per The Wall Street Journal.

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How Trump feels about the move:

  • President Donald Trump supports the move. He said Tuesday that Oracle would be “a great company” to take over TikTok.
  • Oracle’s chairman, Larry Ellison, is a Trump supporter, BBC News reports. He even held a fundraising event for him in February 2020.
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  • Trump’s support could go a long way in the deal. The president has previously called for a ban of TikTok due to its connections to a Chinese-owned company. He said the government should get a “substantial portion” of the sale price, BBC News reports.
  • Microsoft was rumored to be in discussions to buy the app as well.
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