TikTok to sell U.S. operations to joint venture led by American investors

TikTok has agreed to sell its U.S. operations to a new joint venture led by American investors, concluding a prolonged national security dispute, according to a report by Axios.

Under the terms of the deal, Oracle, Silver Lake, and Abu Dhabi-based MGX will collectively own 45% of the company. Affiliates of existing investors in ByteDance will hold approximately one-third of the company, while ByteDance itself will retain nearly a 20% stake.

This agreement marks a significant development in the ongoing discussions surrounding TikTok"s operations in the United States, which have faced scrutiny over national security concerns. For further context on similar situations, see recent developments in related coverage.