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TikTok Strikes Deal to Avoid US Ban With American-Led Ownership. TikTok’s Chinese parent company, ByteDance, says it has finalized a deal to create a new joint venture that will place the app's US operations under majority American ownership, avoiding a potential nationwide ban. The agreement establishes TikTok USDS Joint Venture, which will control US user data, apps, and recommendation algorithms through new privacy and cybersecurity safeguards. American and global investors will hold just over 80 percent of the venture, while ByteDance retains a minority stake. President Donald Trump praised the deal, calling it a win for "great American investors," and thanked Chinese President Xi Jinping for approving the agreement. The White House confirmed both governments have signed off. Major investors include Oracle, Silver Lake, and Abu Dhabi-based MGX, with Oracle's US cloud securing TikTok's algorithm and data. Former TikTok executives have been appointed to lead the venture. The deal marks a turning point after years of political and legal battles over national security concerns, ensuring TikTok can continue operating for more than 200 million Americans.
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