TikTok Sale to Oracle, Walmart Is Shelved as Biden Reviews Security: WSJ

The Volt Journal reported Wednesday that Oracle Corp. and Walmart Inc.’s Tickcock’s U.S. The plan to buy operations has been pushed back indefinitely, as President Joe Biden has reviewed previous administration efforts by Chinese tech companies to address potential security risks.

Former President Donald Trump’s administration cited national security concerns in its targeting of Tickcock, arguing that the U.S. Users’ personal data can be obtained by the Chinese government, while Tickcock denies the charge.

It comes as the parents of Tiktok, Bytdance, U.S. One finds itself in a legal quarrel with the government, which has a number of federal courts, prohibiting the Commerce Department’s attempt to shut down Tiktok’s operations in the United States.

The WSJ report (https://on.wsj.com/3a6KA8z) has continued discussions between representatives of ByteDance and US national security officers, citing people familiar with the matter.

Tickcott is in talks with Walmart and Oracle in September to replace Tickcock’s US assets with a new entity to prevent a total ban on use in the country.

TickTalk, which has more than 100 million users in the United States, features a simple user interface, background music options, and various special effects to help users create short-form entertaining videos.

Tikotok, Oracle and Walmart did not immediately respond the request.