TikTok Agrees to Sell Assets to U.S. Investors

The Chinese owner of TikTok, ByteDance, has reached an agreement with three major U.S. investors to sell its assets, Reuters reports, citing TikTok CEO Shou Zi Chew.

The deal follows the terms announced in September, when U.S. President Donald Trump delayed a law that would have banned TikTok in the U.S. if ByteDance did not sell its American operations, pushing the deadline to January 20.

Under the agreement, ByteDance and TikTok will work with Oracle, Silver Lake, and MGX. These three investors will jointly hold 45% of TikTok’s shares, with each owning 15%. Another 30.1% will stay with current ByteDance investors, while ByteDance will keep a 19.9% stake.

The deal also includes the creation of a new U.S.-based joint company called TikTok USDS Joint Venture LLC.

This agreement ends years of pressure on ByteDance to sell its U.S. business over national security concerns. Today, more than 170 million Americans use TikTok regularly.

In September, President Trump had signed an order requiring ByteDance to sell TikTok’s U.S. operations to American and international investors, emphasizing that TikTok “will be fully controlled by Americans.”