Entertainment President Donald Trump Agrees To TikTok-Oracle-Walmart Partnership

02:02  20 september  2020
02:02  20 september  2020 Source:   deadline.com

TikTok Says It Will Sue Trump Administration Over Executive Order Demanding It Be Sold in U.S.

  TikTok Says It Will Sue Trump Administration Over Executive Order Demanding It Be Sold in U.S. TikTok says it will file a lawsuit against President Donald Trump's administration over his executive order demanding ByteDance — TikTok's Beijing-based parent company — sell or spin off its U.S. operations within 90 days. "Even though we strongly disagree with the Administration's concerns, for nearly a year we have sought to engage in good faith to provide a constructive solution," ByteDance spokesperson Josh Gartner said in a statement to TheWrap Saturday. "What we encountered instead was a lack of due process as the Administration paid no attention to facts and tried to insert itself into negotiations between private businesses.

President Donald Trump said Saturday he has approved a deal in principle in which Oracle and Walmart will partner with the viral video-sharing app TikTok confirmed Oracle 's role and said it was working with Walmart on a commercial partnership . Walmart said it has tentatively agreed to a

US President Donald Trump said Saturday that he has approved a deal, in concept, between video-sharing app TikTok, retailer Walmart and software TikTok has confirmed the deal in a statement, "We are pleased that the proposal by TikTok , Oracle and Walmart will resolve the security concerns

Donald Trump wearing a suit and tie © CSPAN

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As a deadline loomed for TikTok to shut down its US operations, President Donald Trump said Saturday he has agreed in concept to a deal under which Chinese-owned app TikTok can continue.

Trump said a partnership with Oracle and Walmart that will make the video-sharing company and its data US-based has won him over.

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“I have given the deal my blessing, if they get it done, that’s okay too, if they don’t, that’s fine too,”  Trump told reporters at the White House on Saturday.

supermarket giant Walmart allies with Microsoft for Tiktok takeover

 supermarket giant Walmart allies with Microsoft for Tiktok takeover © Shutterstock Together with Microsoft: Walmart wants Tiktok. According to a media report, Walmart wants to team up with Microsoft to bid for Tiktok. A deal could meanwhile be announced in the coming days. The story of a possible sale of the popular Tiktok video app has had a surprising twist. Because the US retail group Walmart wants to ally itself according to an report from CNBC with Microsoft in order to submit a joint takeover offer.

The approval delays President Trump ’s threat to block a popular Chinese-owned social media app, while the American software giant, Walmart and others try to The Trump administration has been reviewing a deal between Oracle , Walmart and ByteDance, TikTok ’s Chinese owner, to see if it

President Donald Trump approved a tentative deal that would allow TikTok to continue to operate in the United States. At the same time, a California A tentative agreement between TikTok , Oracle , and Walmart was reached on Saturday. Oracle will take a 12.5% stake in the new TikTok entity that will

Trump said the deal will create 25,000 jobs, and that the new US version of TikTok “will have nothing to do with China.” He said Oracle and Walmart will set up a $5 billion fund to educate young Americans, but didn’t elaborate.

TikTok came under fire after Trump said it posed a national security threat. He signed an executive order in August that forced its owner, Beijing-based ByteDance Ltd., to pursue a sale or partnership with a U.S. company.

Trump voiced concerns over TikTok providing data on US citizens to the Chinese government. ByteDance insisted it would never do that.

Microsoft and Twitter also explored a deal with TikTok, but Oracle ultimately prevailed.

The Commerce Department on Friday issued regulations barring U.S. companies from providing downloads or updates for TikTok after 11:59 p.m. Sunday. That order also covers WeChat, another Chinese app that isn’t covered by the new TikTok deal.

A judge prevents the ban of TikTok in the United States in extremis .
© Provided by La Tribune Donald Trump has long accused TikTok of spying on its users for the benefit of Beijing, without giving any evidence. Since its decree, negotiations, invective at the top and twists and turns in the courts have been linked. If the negotiations are not successful, a complete ban on the network's activities on American soil could come into force from November 12, the Treasury warned.

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