Trump anticipated to sign TikTok agreement Thursday, NBC News reports

U.S. President Donald Trump is anticipated sign an agreement on Thursday to facilitate the sale of TikTok from China-based ByteDance to a group of U.S.-based investors, NBC News’ Julie Tsirkin, Monica Alba, Tara Prindiville and Alexandra Marquez report, citing two senior White House officials. Members of the Trump administration have been indicating in recent days that a deal was being finalized between officials from the U.S. and China, the authors note. Once the agreement is implemented, TikTok’s U.S. operations would be overseen by a new joint business, with ByteDance holding less than 20% of the stock of the new entity, the authors say. Companies reportedly involved in the deal include Oracle (ORCL), Silver Lake, and Andreessen Horowitz. Publicly traded companies in the social media space include Meta Platforms (META), Pinterest (PINS), Reddit (RDDT) and Snap (SNAP).