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Story summary
- Oracle will oversee TikTok's U.S. algorithm and data security.
- ByteDance will own under 20%; investors include Silver Lake and potentially Fox Corporation.
- The deadline was extended to December 16 to gain approvals.
- U.S. data will reside in a dedicated Oracle cloud, with ByteDance denied access.
- The seven-member board will have national security credentials; ByteDance may hold only one director.
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