What happened

President Donald Trump yesterday said his administration and Beijing have a “deal on TikTok,” and he gave the social media juggernaut a fourth 90-day reprieve from a law banning it from the U.S. as long as it remains under Chinese ownership. He declined to name any of the “very big companies that want to buy it,” but The Wall Street Journal said a U.S. version of TikTok “would be controlled by an investor consortium including Oracle, Silver Lake and Andreessen Horowitz.”

Who said what

Under the framework deal, U.S. companies would own about 80% of the new company, while China’s ByteDance would keep just under 20%, the Journal said. U.S. TikTok would have an “American-dominated board with one member designated by the U.S. government,” and it would recreate TikTok’s co

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