Trump Gives TikTok and Oracle Deal His ‘Blessing'
Rachel Uranga covers the intersection of business, technology and culture. She is a former Mexico-based market correspondent at Reuters and has worked for several Southern California news outlets, including the Los Angeles Business Journal and the Los Angeles Daily News. She has covered everything from IPOs to immigration. Uranga is a graduate of the Columbia School of Journalism and California State University Northridge. A Los Angeles native, she lives with her husband, son and their felines.
President Donald Trump told reporters he approved a deal in concept between Oracle and TikTok's parent company ByteDance in which Oracle and Walmart would partner with the app in the U.S. The move could avert the ban in U.S. app stores that was set to go into effect on Sunday.
"I have given the deal my blessing," Trump said to reporters at the White House Saturday. "If they get it done, that's great. If they don't, that's okay, too."
It is unclear whether ByteDance will remain a majority owner of TikTok.
"It will have nothing to do with China. It'll be totally secure; that'll be part of the deal," Trump said. "All of the control is Walmart and Oracle, two great American companies."
But Trump said the company, now seated in Culver City, will likely be headquartered in Texas and bring 25,000 jobs.
He added that TikTok has agreed to donate $5 billion to an education fund, which Trump said would satisfy his demand that the government receive a payment from the deal.
"They're going to be setting up a very large fund," Trump told reporters. "That's their contribution that I've been asking for."
Various outlets with reporters at the White House reported on Trump's sign off. It came after the president signed an executive order in August that called the viral social video app owned by Chinese internet company ByteDance a national security threat. It also called on the Beijing based parent company to sell TikTok to a U.S. firm or face a ban.
The administration accuses TikTok of sharing user data with the Chinese Communist government. TikTok denies the charges.
This week, the New York Times reported that TikTok is hunting for a new CEO and that Instagram co-founder Kevin Systrom is being considered for the position.
- Trump and Microsoft Are Looking at TikTok - dot.LA ›
- How Trump's Order Could Impact The Fates of Snap, TikTok and ... ›
- TikTok Threatens Legal Action Over Trumps Executive Order - dot.LA ›
- TikTok Employee Patrick Ryan Sues Trump for Defamation - dot.LA ›
- TikTok Employee Asks Judge to Halt Ban on Popular Video App ... ›
- DOJ: TikTok Employees Will Get Paid Despite Trump's Order - dot.LA ›
Subscribe to our newsletter to catch every headline.
Minutes into filling out my absentee ballot last week, I was momentarily distracted by my dog Seamus. A moment later, I realized in horror that I was filling in the wrong bubble — accidentally voting "no" on a ballot measure that I meant to vote "yes" on.
It was only a few ink marks, but it was noticeable enough. Trying to fix my mistake, I darkly and fully filled in the correct circle and then, as if testifying to an error on a check, put my initials next to the one I wanted.
Then I worried. As a reporter who has previously covered election security for years, I went on a mini-quest trying to understand how a small mistake can have larger repercussions.
As Los Angeles County's 5.6 million registered voters all receive ballots at home for the first time, I knew my experience could not be unique. But I wondered, would my vote count? Or would my entire ballot now be discarded?
My distractingly sweet dog, Seamus.
Photo by Tami Abdollah
Fiction Riot, the L.A.-based entertainment company behind mobile streaming app Ficto, raised $250,000 this week. Chief executive Mike Esola says the company has intentionally grown slowly, eschewing venture capital in favor of incremental fundraising from family offices, institutions and friends and family.
Mike Esola is Fiction Riot's CEO
- ficto - dot.LA ›
- Ficto Tests its Way Toward a Mobile Content Strategy - dot.LA ›
- Whatifi is Looking For Scripts - dot.LA ›
- Can a Niche Streaming Service Survive the Streaming Wars? - dot.LA ›
- Ficto Partners with LG on Shows Designed For Its LG Wing - dot.LA ›