Business

Oracle Leads Consortium to Buy TikTok's US Operations
By Reuters | 15 Sep, 2025

A framework deal reached Monday calls for Oracle to lead a consortium of firms that will allow TikTok to continue operating in the US.

Oracle is among a consortium of firms that would enable TikTok to continue operations in the United States if a framework deal between the U.S. and China is finalized, CBS News reported on Monday. 

Reuters could not immediately confirm the report.

The precise structure of the deal was not clear, the report said, adding that the deal will include multiple companies. 

The White House, Oracle and TikTok did not immediately respond to Reuters' requests for a comment.

U.S. and Chinese officials said earlier on Monday that they have reached a framework agreement to switch TikTok to U.S.-controlled ownership that will be confirmed in a Friday call between U.S. President Donald Trump and his Chinese counterpart Xi Jinping.

After a meeting with Chinese negotiators in Madrid, U.S. Treasury Secretary Scott Bessent said a September 17 deadline that could have disrupted the popular social media app in the U.S. encouraged Chinese negotiators to reach a potential deal.

He said that deadline could be extended by 90 days to allow the deal to be finalized, but declined to discuss any specifics.

(Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Rashmi Aich and Sherry Jacob-Phillips)