Donald Trump revealed last week the US and China are close to inking a deal to let TikTok continue operating in the US. Details are not final, but should the agreement go through as has been reported, the owners of the US’s most powerful cable TV channels may soon also steer the nation’s most influential social network. The arrangement would gift Trump’s billionaire allies a degree of control over US media that would be vast and unprecedented.
Here’s what we know. Under the known terms of the deal, which Trump declared has the tentative buy-in of Chinese president Xi Jinping, TikTok in the US would get a new group of US investors, led by the US software giant Oracle, which would license TikTok’s vaunted recommendation algorithm and take over its security.
