TikTok Completes Deal for US Operations

TikTok has finalized a deal to divest the majority of its US operations from its parent company ByteDance, which will retain only 20% ownership. This arrangement, involving non-Chinese investors like Oracle and Silver Lake, ensures the app’s continued availability in the US while enhancing data protection and content moderation. The new entity will operate under a seven-member board, predominantly American, and promises to maintain user access to international content. The agreement marks the conclusion of a prolonged process amid fears of a US ban on the app.

Want More Context? 🔎