New TikTok Deal


Photo Credit: nytimes.com

Amber Syed – Scene Editor

The debate on banning TikTok is a highly controversial one. It’s a previously Chinese owned social media platform and according to CNN Business, the threat to ban TikTok was pushed back by one week, to the end of the day on September 27.

Over the weekend a new deal between Oracle, Walmart, and a new U.S. company arose. In this deal Oracle and Walmart would take a small stake to continue operating TikTok. Although U.S. Companies will have part ownership of TikTok, China’s ByteDance would still have about 80 percent of the shares. It is still uncertain if this deal will satisfy President Trump’s concerns. If not, new downloads of TikTok will be banned.

If the deal does get processed, it could make a huge impact on Walmart’s advertisement, according to CNBC. Furthermore, according to Fox Business Trump said, this deal could open up 25,000 new jobs for people in Texas. The future for TikTok is still uncertain, but the move to the U.S. sure could help.