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TikTok signs deal to sell US unit to American investor-led venture
- On January 22, TikTok and ByteDance signed binding agreements to sell TikTok's U.S. entity to a U.S. joint venture led by American investors, per an internal memo.
- Since 2020, U.S. officials pursued legal measures including a 2024 law upheld by the Supreme Court in January, and the White House and Chinese government reached a September deal in principle to sell the U.S. operations.
- The new TikTok U.S. joint venture will allocate 50% to a consortium of new investors, with Oracle, Silver Lake, and affiliates of ByteDance each holding 15%, while ByteDance retains nearly 20%.
- A completed sale would end a years-long effort to force ByteDance to sell its U.S. operation and preserve TikTok's ability to operate under U.S.-led control.
- The White House and the Chinese government hammered out the September framework guiding U.S.-led investor selection, while President Donald Trump’s administration delayed enforcement via executive orders seeking a negotiated sale.
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TikTok's long-postponed plan to separate from his Chinese matrix ByteDance was launched on Thursday, when the popular video exchange platform announced it would be acquired by a group of buyers led by Oracle.
·Spain
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leprogres.fr+2 Reposted by 2 other sources
TikTok USDS Joint Venture LLC is the U.S. co-company created to comply with U.S. law and that the Chinese social network can continue to be used in the U.S.
Oracle, Silver Lake and MGX gain control of US version of platform - TikTok's technical separation allows US to oversee data and operation, without transferring Chinese algorithm
The investors are said to be the software company Oracle, as well as the financial companies Silver Lake from the USA and MGX from Abu-Dhabi.
·Vienna, Austria
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Coverage Details
Total News Sources260
Leaning Left44Leaning Right20Center95Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 28%
C 60%
12%
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