Oracle would reportedly control TikTok's data collection, algorithm, and software updates, but Chinese owner ByteDance would maintain a minority stake.

By Dawn Chmielewski, Kanishka Singh and Milana Vinn NEW YORK/WASHINGTON (Reuters) -The administration of U.S. President Donald Trump is working on a plan to save TikTok that involves tapping software company Oracle and a group of outside investors to effectively take control of the app's operations,

The Trump administration is negotiating a deal that would see Oracle take over TikTok alongside new U.S. investors, according to a report in NPR.

The Trump administration is working with Oracle and investors like Microsoft to save TikTok, allowing ByteDance to keep a minority stake. Meetings are ongoing to finalize the deal, with a potential $200 billion price tag and oversight by Oracle to reduce Chinese ownership.