TikTok's parent company and Oracle have agreed to a takeover deal that has the Treasury Department's approval, NBC News reports.
After suggesting the Chinese-owned video sharing app was a national security risk, President Trump ordered TikTok's owner ByteDance to find a buyer for its U.S. operations or risk a total ban. Microsoft's bid for TikTok didn't work out, but Oracle, ByteDance, and the Treasury Department all agreed to a deal for Oracle's U.S. takeover, two people familiar with the arrangement said.
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