TikTok secures U.S. deal with investor group to prevent ban
TL;DR Summary
TikTok is restructuring its US operations into a joint venture with Oracle, Silver Lake, and MGX as managing investors, focusing on national security tasks while ByteDance retains control over key revenue-generating areas like e-commerce and advertising, with the new investors having limited influence over these core business lines.
- TikTok's new US owners won't control key parts of the business, according to a leaked memo Business Insider
- Scoop: TikTok signs deal for U.S. unit after yearslong saga Axios
- Oracle stock jumps 7% as cloud provider joins investor group to run TikTok's U.S. business CNBC
- Explainer: What is so special about TikTok's algorithm? Reuters
- TikTok Signs Agreements With Investors in Step Toward Avoiding a U.S. Ban The New York Times
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