ByteDance confirms TikTok will be controlled by US owners
After a year of stalled negotiations, TikTok owner ByteDance has reportedly agreed to Donald Trumpβs deal giving US owners majority ownership of the app.
By signing the agreements, ByteDance has ended a prolonged period of uncertainty for millions of Americans who rely on TikTok for news, entertainment, social connection, and income. Under a law that Trump declined to enforceβwhich lawmakers convinced the Supreme Court was critical for national securityβTikTok risked a US ban next year if the sale did not go through.
According to Reuters, terms of the deal match what was reported in September when Trump controversially confirmed that ByteDance would keep the algorithm. Under the deal, US investors and alliesβincluding cloud computing firm Oracle, private equity group Silver Lake, and Abu Dhabi-based MGXβwill likely license the algorithm.


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