Trump to announces plans for TikTok America proposal, Information says

U.S. President Donald Trump intends to announce later on Wednesday plans for a new company to be known as TikTok America, as part of his attempts to reach a deal to keep the video streaming app alive in the U.S., The Information’s Kaya Yurieff reports, citing a person close to the discussions. It is not yet clear whether the White House has approval for the proposed structure of such an arrangement from China, the author says. Under the president’s proposal, TikTok America would be approximately 50% owned by new U.S. investors and license the platform’s algorithm from ByteDance, the author says, noting that existing ByteDance investors would have a roughly one-third interest, while ByteDance itself would retain a 19.9% stake. Companies reportedly aiming to buy TikTok or invest in a U.S. version of it include Amazon (AMZN), AppLovin (APP), Meta (META), Microsoft (MSFT), and Oracle (ORCL).