Oracle among firms to enable TikTok to continue US operations, CBS News reports

Oracle ORCL.N is among a consortium of firms that would enable TikTok to continue operations in the United States if a framework deal between the U.S. and China is finalized, CBS News reported on Monday.

Reuters could not immediately confirm the report.

The precise structure of the deal was not clear, the report said, adding that the deal will include multiple companies.

The White House, Oracle, TikTok, and the Chinese Embassy in Washington did not immediately respond to Reuters' requests for comments outside regualr business hours.

U.S. and Chinese officials said earlier on Monday that they have reached a framework agreement to switch TikTok to U.S.-controlled ownership that will be confirmed in a Friday call between U.S. President Donald Trump and his Chinese counterpart Xi Jinping.

After a meeting with Chinese negotiators in Madrid, U.S. Treasury Secretary Scott Bessent said a September 17 deadline that could have disrupted the popular social media app in the U.S. encouraged Chinese negotiators to reach a potential deal.

He said that deadline could be extended by 90 days to allow the deal to be finalized, but declined to discuss any specifics.

A potential deal for TikTok involving Oracle could require approval by the Republican-controlled Congress, which passed a law in 2024 requiring divestiture due to fears that TikTok's U.S. user data could be accessed by the Chinese government, allowing Beijing to spy on Americans or conduct influence operations through the app.

The popular short video social media app has 170 million U.S. users.