TikTok proposes U.S.-based JV that would oversee data security, WSJ reports

TikTok CEO Shou Chew has proposed to senior White House officials a U.S.-based joint venture between U.S. investors and TikTok that would oversee data security, The Wall Street Journal’s Jessica Toonkel, Dana Mattioli, Alex Leary, and Josh Dawsey report. Management would be U.S.-based and a board of directors would be a majority U.S. members, according to a person familiar with the proposal. In public and behind the scenes, President Donald Trump has discussed possible deals to Americanize control of the Chinese-controlled app, and several companies have privately expressed interest in participating in a deal for TikTok or its American operations, including Oracle (ORCL), Amazon (AMZN), and Microsoft (MSFT), according to people familiar with the matter. Companies in the social media space that compete with TikTok include Meta (META), Alphabet’s (GOOG) YouTube (GOOGL), Pinterest (PINS), Reddit (RDDT) and Snap (SNAP).