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TikTok deal is close, sources say

CNBC · Just In
CNBC
CNBC
Just In

Negotiations for a deal involving TikTok's U.S. operations are reportedly nearing completion, according to sources familiar with the matter. The proposed arrangement would see TikTok's algorithm licensed to a U.S. entity owned by a mix of new and existing investors.

Breakdown
  • A TikTok deal is reportedly close, according to sources familiar with the situation. 13s
  • The deal would license TikTok's algorithm to a US entity owned by new and existing investors. 19s
  • Oracle's servers and cloud infrastructure will continue to be used by the new entity. 44s
  • The agreement is separate from broader US-China trade negotiations. 5s
  • TikTok is expected to continue operations without interruption. 1m 24s
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