A proposed TikTok US download ban set for Sunday has been delayed as Donald Trump confirmed that he approved an Oracle-led bid for TikTok in concept.
On Friday, the Commerce Department announced that a TikTok ban was to come into effect that would have seen it pulled from the Google and Apple app stores.
However, yesterday, the Commerce Department moved to delay the proposed ban following hope of the Oracle deal for TikTok in the US and a thumbs up from Trump.
Wilbur Ross of the Commerce Department noted:
“In light of recent positive developments, Secretary of Commerce Wilbur Ross, at the direction of President Trump, will delay the prohibition of identified transactions pursuant to Executive Order 13942, related to the TikTok mobile application that would have been effective on Sunday, September 20, 2020, until September 27, 2020 at 11:59 p.m.”
Shares in 7digital rallied strongly on Friday as hopes were raised that downloads of TikTok-rival Triller would be a strong beneficiary from a surge in downloads and therefore generate more revenue from music being played from the 7digital catalogue.