TikTok finalizes deal to stay in the U.S.2026-01-23 17:20 by DanielaTags: TikTok
The United States and China have signed off on a deal that hands control of TikTok’s U.S. operations to a group of investors backed by President Donald Trump. TikTok said Thursday in a news release that a new company, TikTok USDS Joint Venture LLC, would ensure the app continues to be available in the U.S. The company will "operate under defined safeguards that protect national security through comprehensive data protections, algorithm security, content moderation, and software assurances for U.S. users," the statement said. ByteDance, TikTok's Beijing-based owner, will retain a 19.9% stake in the U.S. operation. The joint venture will be governed by a seven-member board of directors. The new company will be led by Adam Presser, with TikTok CEO Shou Chew serving on the board of directors, TikTok said in the release. The majority of the board's members are American, it noted. The deal, facilitated by the Trump administration, means the U.S. version of TikTok will become majority-owned by a group of investors that includes the American tech giant Oracle, the California-based private equity fund Silver Lake and the United Arab Emirates investment firm MGX. Read more -here-
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