Sept. 22 (UPI) -- The social media platform TikTok soon will be U.S.-based, according to a purported preliminary deal to keep the popular app operating for American users.
A joint venture with software giant Oracle will keep the video app's operations in the United States, with a majority control of it board of directors being Americans, a senior administration official confirmed to CNBC, CNN and USA Today.
According to the White House, no board member will be selected by the federal government and U.S. President Donald Trump is expected to ink an executive order this week that backs the proposal in yet another extension.
On Saturday, the White House initially revealed that TikTok's U.S. operations will be controlled by a U.S. entity in a planned deal to spin off the wildly popular social media platform from its Chinese owners.
The unnamed administration official added that the U.S. government will not take an equity stake in TikTok.
