US President Donald Trump has signed an executive order to sell TikTok’s China-based owner ByteDance’s US operations to a consortium of investors, including Oracle and Silver Lake. As part of the deal, ByteDance will maintain ownership but cede control of data, content, and algorithm to a newly formed joint venture. The joint venture will handle user data and algorithm, while ByteDance will retain control over e-commerce, branding, and international operations.
The move is aimed at addressing national security concerns and comes as part of a 2024 law requiring ByteDance to divest its US assets or face a ban. The deal’s details are still under discussion, with the House Select Committee on China conducting full oversight over the transaction.
TikTok’s future in the US is crucial to Trump, who credits the platform for helping him win re-election and has 15 million followers on his personal TikTok account. However, concerns remain about whether this deal represents a qualified divestiture of all US assets as required under the law.
Source: https://www.reuters.com/legal/transactional/bytedance-expected-play-big-role-new-us-tiktok-sources-say-2025-09-26