AsianFin -- TikTok’s U.S. operations are set to come under the control of an investor consortium led by Oracle, Silver Lake, and Andreessen Horowitz, according to a Wall Street Journal report on Tuesday citing people familiar with the talks. The move is part of a framework deal that Washington and Beijing are finalizing after months of tense negotiations over the popular short-video app.

Under the plan, a new company will be created to manage TikTok in the United States, with U.S. investors holding around 80% of the stake and Chinese shareholders retaining the remainder. The entity would be overseen by a board dominated by American members, including one appointed by the U.S. government.

As part of the transition, existing TikTok users in the U.S. would be asked to migrate to a new app, which the company has already developed and is testing, the Washington Post reported. Reuters previously revealed in July that TikTok was preparing such a standalone platform for U.S. users, designed to run on a separate algorithm and data infrastructure from its global app.

Oracle, a longtime contender in discussions over TikTok’s future, would handle U.S. user data at its facilities in Texas, the WSJ report said. This arrangement is aimed at addressing Washington’s longstanding security concerns over Chinese access to Americans’ personal information.

While the framework marks a breakthrough, the U.S. and China are still ironing out final details, and the terms could change, according to the report. Investors and policymakers are now watching closely for an expected call between U.S. President Donald Trump and Chinese President Xi Jinping later this week, which could determine whether the deal moves forward.

The outcome of the talks carries implications beyond TikTok, as both sides weigh whether this model could serve as a template for handling future disputes involving Chinese tech companies operating in the United States.