If your screen-addicted teenager seems less sour than usual, this is why: It looks like TikTok will live on.
The government announced a pending deal for a group in the U.S. to buy the app. It’s currently owned by the Chinese company ByteDance.
They didn’t say who’s buying it, but insiders think Oracle founder Larry Ellison is involved. For a minute last week, he passed Elon Musk and was the richest person in the world. (Elon was solidly back at the top last we checked.)
TikTok has been on the chopping block for years now over worries China could use it to track Americans.
Congress passed a bill last year that said ByteDance had to sell to a U.S. company or face a ban.
The original deadline was January 19th, and TikTok DID briefly disappear from the App Store. But President Trump extended the deadline to April, then June, then September.
The new ban was supposed to take effect this Friday, but it sounds like that won’t be happening. The White House said the “framework” of a deal is in place, and it could be finalized by the end of the week.
(Fox Business / CNBC)
