TikTok agrees to sell US operations to American investors

TikTok has agreed to sell its US operations to American investors Oracle, Silver Lake, and MGX, allowing the app to continue functioning in the United States. The deal, expected to finalize January 22, involves a joint venture where new investors hold 50%, existing ByteDance investors' affiliates 30.1%, and ByteDance retains 19.9%. Oracle will license TikTok's recommendation algorithm. This agreement follows a protracted process, including previous threats of a ban by former President Trump and a congressional ban signed into law in April 2024 over security concerns.