TikTok close to closing the sale of the app to a group of non-Chinese investors.

TikTok's ownership in the United States may be close to changing hands. According to several US media outlets, ByteDance , its parent company, is close to finalizing the sale of the app to a group of "non-Chinese" investors, including Oracle . This move would ensure the platform's survival in the United States, which has been under threat since a law went into effect last January that threatened to block it nationwide.

According to The Information , ByteDance is currently developing a new version of the app designed exclusively for the United States. This would be compatible with the current version of TikTok, which will continue to operate globally, as the Chinese company will initially only sell the service in the United States.

The social network's owner's initial plan is to have the new app ready for launch in app stores on September 5th. Users based in the United States will have until March 2026 to install the new app on their devices , which is when the current version will be permanently discontinued nationwide.

Although the majority of TikTok in the United States will be owned by a new group of investors, ByteDance will retain a minority stake in the service. This does not violate the US regulations that have forced the company to negotiate to sell the service.

Currently, the main obstacle to the successful completion of the sale negotiations is the Chinese government, which has veto power over any agreement. US President Donald Trump, who has been one of the main advocates for TikTok's survival in recent months, stated on Friday that he intended to negotiate the transfer with Beijing this week.

"I think we'll start on Monday or Tuesday... talking with China, perhaps with President Xi or one of his representatives, but we'll basically have an agreement," the president said in a conversation with reporters aboard the presidential plane. Since Trump came to power, the president has extended the deadline for banning TikTok three times, most recently just a couple of weeks ago. The service's survival in the country, where it has more than 150 million users, was one of his campaign promises.

ABC has contacted TikTok to inquire about the status of the potential sale. It has not yet received a response.