Oracle Is Leading Contender to Help Run TikTok in New Deal

Oracle has emerged as a leading contender to help run TikTok as part of a deal President Donald Trump is orchestrating to satisfy last year’s divest-or-ban law, say investors, bankers and former executives familiar with the Chinese tech giant. ByteDance management prefers Oracle, while President Trump has also indicated his support for Oracle playing a key role.

At the same time, though, ByteDance’s leaders want to retain a hands-on role with TikTok’s operations in any deal, even if U.S. companies end up owning a piece of TikTok U.S., the people say. That stance could undercut hopes of several U.S. bidders interested in buying control of TikTok, including a consortium led by billionaire Frank McCourt with Reddit cofounder Alexis Ohanian.