ByteDance has denied reports that it plans to sell TikTok’s U.S. operations to a consortium led by Oracle Corporation (NYSE:ORCL), according to Chinese media on Tuesday. Speculation had surfaced that Oracle was leading a group to acquire a majority stake in TikTok's U.S. business—a move seen as crucial to keeping the popular video-sharing app active in the American market.
Under an executive order signed by U.S. President Donald Trump, ByteDance faces a September 17 deadline to finalize the sale. The transaction must be approved by both U.S. and Chinese authorities. The potential ban on TikTok stems from ongoing concerns in Washington over data privacy and national security, given ByteDance’s Chinese ownership.
While the Trump administration had originally planned to enforce a ban on TikTok starting January, it has repeatedly postponed enforcement, leaving the door open for a deal to be completed. Trump recently signaled that the ban could be indefinitely delayed if a suitable agreement is reached. ByteDance is expected to retain a minority stake in TikTok after any deal is finalized.
In preparation for a potential sale, TikTok is reportedly developing a new version of its app tailored specifically for U.S. users, signaling ongoing efforts to meet regulatory demands and maintain its presence in one of its largest markets.
The situation remains fluid, with ongoing negotiations and political considerations on both sides potentially shaping the final outcome. Investors and users alike are closely watching as the clock ticks toward the September deadline. TikTok continues to face intense scrutiny from U.S. lawmakers, regulators, and the tech industry over data governance and ties to Beijing, putting pressure on ByteDance to finalize a compliant solution.