Oracle & Silver Lake Join TikTok Deal as Trump Pushes Deadline to December
WASHINGTON — President Donald Trump has once again extended the deadline for ByteDance to divest its U.S. TikTok operations, giving more time for a deal involving an investor consortium that includes Oracle, Silver Lake, and Andreessen Horowitz. The new deadline is set for December 16, delaying a potential nationwide ban.
The extension, issued through an executive order, prevents the Department of Justice from enforcing restrictions that would have barred Apple, Google, and internet service providers from supporting TikTok’s U.S. platform.
Under the proposed framework deal, nearly 80% of TikTok’s U.S. business would be owned by American investors, with Oracle continuing as TikTok’s cloud provider. Reports indicate that existing U.S. users may need to migrate to a new version of the app once the agreement is finalized.
Treasury Secretary Scott Bessent confirmed that the commercial terms have been largely in place since spring but faced delays due to U.S.–China trade tensions. Trump and Chinese President Xi Jinping are expected to review the final terms later this week.
The deal is projected to close within the next 30 to 45 days, securing TikTok’s U.S. future while addressing national security concerns.
