(NewsNation) — President Donald Trump is planning to sign an executive order approving a proposed TikTok deal, according to sources familiar with the plan.

A White House senior official told NewsNation that Oracle will be TikTok's trusted security provider in partnership with the U.S. government.

The deal will allow the app to continue to operate in America.

Under the deal, TikTok in the U.S. will be majority-owned by American interests. It would be run by a new joint-venture company with ByteDance holding less than 20% of the stock.

The new company will be operated by a board of directors with national security and cybersecurity credentials, with ByteDance choosing only one director of the seven-seat board. ByteDance will also be excluded from the company's security committee.

Oracle

See Full Page