Americans Will Hold 6 Of 7 Board Seats On TikTok’s US Operations; Oracle Biggest Winner

News Snapshot:

The US operations of TikTok will be majority-owned and controlled by Americans under a deal reached this week to spin off the platform from its Chinese ownership, White House Press Secretary Karoline Leavitt said. Speaking on Fox News, Leavitt said Saturday that Americans would hold six of the seven board seats for TikTok and that more importantly, the app’s addictive algorithm would be US-controlled. She added the final deal would be signed in the coming days. The American board members would have national security and cybersecurity credentials and the remaining board member, chosen by current owner ByteDance, will be excluded...