"According to Chinese sources, the two sides have reached a "basic framework consensus," which includes licensing the very successful algorithm and other intellectual property rights. If you read between the lines, that means the two sides haven't actually talked specifics, and once again, the September 17 deadline will likely be revised, so that all parties involved will finalize all details regarding the deal. Also, Congress will have to approve the deal."
"Some people familiar with the matter say that a US version of the TikTok app has been in development for some time now in anticipation of the deal and will ensure that content generated by American users will reach the rest of the world and vice versa. Unfortunately, we still don't know which investors or companies will buy TikTok. Rumors emerged in March and April that Amazon and other companies are bidding to buy TikTok."
China and the U.S. have reached a basic framework consensus that includes licensing TikTok's algorithm and other intellectual property rights. The framework remains high-level and lacks specific transactional details. The September 17 deadline is likely to be revised while parties finalize deal particulars. Any final agreement will require Congressional approval. A U.S. version of TikTok has been under development to ensure American-generated content can be shared globally and vice versa. Potential buyers remain undisclosed, with rumors naming Amazon and other companies as bidders to acquire TikTok.
Read at GSMArena.com
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