NEW YORK (VINnews) — TikTok has reached an agreement to sell its U.S. business, ending a prolonged battle over national security concerns tied to its Chinese ownership.
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The deal, announced Thursday, will transfer control of the popular video-sharing app’s American operations to a consortium that includes Oracle, private equity firm Silver Lake and Abu Dhabi-based investment fund MGX.
According to an internal memo from TikTok CEO Shou Zi Chew, the transaction is expected to close on Jan. 22.
Under the terms, Oracle, Silver Lake and MGX will collectively hold 45% of the new U.S. entity. Affiliates of existing investors in TikTok’s parent company, ByteDance, will own nearly one-third, and ByteDance itself will retain just under 20%.
The arrangement resolves years of pressure from U.S. officials to force ByteDance to divest the app amid fears that the Chinese government could access American user data or influence content.
The saga began in 2020 with an executive order under then-President Donald Trump demanding a sale. It escalated in 2024 when Congress passed a law requiring divestiture or a ban, a measure upheld by the Supreme Court earlier this year.
President Trump, in his second term, has repeatedly extended enforcement deadlines to facilitate negotiations, most recently backing the framework for this investor-led joint venture.
TikTok, with about 170 million U.S. users, will continue operating under the new structure, which includes safeguards such as U.S.-based data handling.
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