TikTok on Thursday (Dec 18) announced that it has signed a joint venture deal with inventors to avoid a ban threatened by US President Donald Trump over its Chinese ownership. According to an internal memo, the company’s CEO Shou Chew told employees that the social media company and its Chinese owner ByteDance had agreed to the new entity, with Oracle, Silver Lake and Abu Dhabi-based MGX on board as major investors, reported AFP.Oracle's executive chairman and founder Larry Ellison is a longtime ally of US President Donald Trump."The US joint venture will be responsible for US data protection, algorithm security, content moderation, and software assurance," Chew said in the memo."It will also have the exclusive right and authority to provide assurances that content, software, and data for American users is secure."Chew told staff that half the US venture will be held by a consortium of new investors including Oracle, Silver Lake and MGX - which will have 15 per cent each.Affiliates of existing ByteDance investors will own a touch over 30 per cent of the venture, with ByteDance retaining just shy of 20 per cent - the maximum ownership allowed to a Chinese company under the terms of the law.TikTok Global's US entities will manage global product interoperability, and certain commercial activities, including e-commerce, advertising, and marketing, according to the memo.Chew noted that there is more work to be done ahead of the January 22 closing date for the deal.<h2>Ellison amassing media?</h2>The new set-up for TikTok is in response to a law passed under Trump's predecessor, Joe Biden, that has forced ByteDance to sell TikTok's US operations or face a ban in its biggest market.US policymakers, including Trump in his first presidency, have warned that China could use TikTok to mine data from Americans or exert influence through its state-of-the-art algorithm.Trump has repeatedly delayed enforcement through successive executive orders, most recently extending the deadline into January.The deal largely confirms a September announcement by the White House that said a new venture had been agreed with China and would meet the requirements of the 2024 law."If I could make it 100 per cent MAGA I would, but it's not going to work out that way unfortunately," Trump told reporters after the TikTok announcement in September.The memo was the first indication that TikTok had signed onto the deal announced by the Trump administration and would have required the approval of the Chinese government to proceed.Trump in September had specifically named Oracle boss Ellison, one of the world's richest men, as a major player in the arrangement.Ellison has returned to the spotlight through his dealings with Trump, who has brought his old friend into major AI partnerships with OpenAI.Ellison has also financed his son David's recent takeover of Paramount and is involved in his son's bidding war with Netflix to take over Warner Bros.Disclaimer: This story has been published from a news agency feed with minimal edits for grammar and punctuation. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

TikTok Global's US entities will manage global product interoperability, and certain commercial activities, including e-commerce, advertising, and marketing, according to the memo.

TikTok on Thursday (Dec 18) announced that it has signed a joint venture deal with inventors to avoid a ban threatened by US President Donald Trump over its Chinese ownership. According to an internal memo, the company’s CEO Shou Chew told employees that the social media company and its Chinese owner ByteDance had agreed to the new entity, with Oracle, Silver Lake and Abu Dhabi-based MGX on board as major investors, reported AFP. Oracle's executive chairman and founder Larry Ellison is a longtime ally of US President Donald Trump. "The US joint venture will be responsible for US data protection, algorithm security, content moderation, and software assurance," Chew said in the memo. "It will also have the exclusive right and authority to provide assurances that content, software, and data for American users is secure." Chew told staff that half the US venture will be held by a consortium of new investors including Oracle, Silver Lake and MGX - which will have 15 per cent each. Affiliates of existing ByteDance investors will own a touch over 30 per cent of the venture, with ByteDance retaining just shy of 20 per cent - the maximum ownership allowed to a Chinese company under the terms of the law. TikTok Global's US entities will manage global product interoperability, and certain commercial activities, including e-commerce, advertising, and marketing, according to the memo. Chew noted that there is more work to be done ahead of the January 22 closing date for the deal. Ellison amassing media? The new set-up for TikTok is in response to a law passed under Trump's predecessor, Joe Biden, that has forced ByteDance to sell TikTok's US operations or face a ban in its biggest market. US policymakers, including Trump in his first presidency, have warned that China could use TikTok to mine data from Americans or exert influence through its state-of-the-art algorithm. Trump has repeatedly delayed enforcement through successive executive orders, most recently extending the deadline into January. The deal largely confirms a September announcement by the White House that said a new venture had been agreed with China and would meet the requirements of the 2024 law. "If I could make it 100 per cent MAGA I would, but it's not going to work out that way unfortunately," Trump told reporters after the TikTok announcement in September. The memo was the first indication that TikTok had signed onto the deal announced by the Trump administration and would have required the approval of the Chinese government to proceed. Trump in September had specifically named Oracle boss Ellison, one of the world's richest men, as a major player in the arrangement. Ellison has returned to the spotlight through his dealings with Trump, who has brought his old friend into major AI partnerships with OpenAI. Ellison has also financed his son David's recent takeover of Paramount and is involved in his son's bidding war with Netflix to take over Warner Bros. Disclaimer: This story has been published from a news agency feed with minimal edits for grammar and punctuation. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

TikTok Global's US entities will manage global product interoperability, and certain commercial activities, including e-commerce, advertising, and marketing, according to the memo.

TikTok signs joint venture deal to avoid Trump’s ban threat in US

US Treasury Secretary Scott Bessent said on Thursday that China has approved the transfer agreement for TikTok. The deal will move forward in the coming months. He, however, refrained from giving any more details.&nbsp;"In Kuala Lumpur, we finalized the TikTok agreement in terms of getting Chinese approval, and I would expect that would go forward in the coming weeks and months, and we'll finally see a resolution to that," he told Fox Business Network's "Mornings with Maria".&nbsp;This was after US President Donald Trump met with Chinese leader Xi Jinping. China's commerce ministry said in a statement that the country will handle issues linked with TikTok with the US.&nbsp;The spokesperson said that the Chinese side will work with the United States “to properly address issues related to TikTok.”&nbsp;TikTok is owned by China-based ByteDance. The app is used by 170 million Americans.&nbsp;In 2024, the US Congress passed a law ordering TikTok's Chinese owners to sell the app's US assets by January 2025. However, it received extensions.&nbsp;On September 25, Donald Trump signed an executive order declaring that the plan to sell the company's US operations to a clutch of US and global investors would satisfy the security requirements. His administration gave ByteDance 120 days to complete the transaction. He said the law will be implemented in January 2026.&nbsp;Per the deal, TikTok's algorithm will be retrained and monitored by the US company's security partners.&nbsp;ByteDance will appoint one of the seven board members of the company's US operations. American citizens will occupy the remaining six positions.&nbsp;According to the deal, ByteDance would hold less than 20 per cent in TikTok's US operations. It will be closed down if it doesn't comply with the law by the deadline.&nbsp;US Representative John Moolenaar said this month that a licensing agreement for use of the TikTok algorithm would raise "serious concerns", reported Reuters.

US Treasury Secretary Scott Bessent said on Thursday that China has approved the transfer agreement for TikTok. The deal will move forward in the coming months. He, however, refrained from giving any more details.

US Treasury Secretary Scott Bessent said on Thursday that China has approved the transfer agreement for TikTok. The deal will move forward in the coming months. He, however, refrained from giving any more details. "In Kuala Lumpur, we finalized the TikTok agreement in terms of getting Chinese approval, and I would expect that would go forward in the coming weeks and months, and we'll finally see a resolution to that," he told Fox Business Network's "Mornings with Maria". This was after US President Donald Trump met with Chinese leader Xi Jinping. China's commerce ministry said in a statement that the country will handle issues linked with TikTok with the US. The spokesperson said that the Chinese side will work with the United States “to properly address issues related to TikTok.” TikTok is owned by China-based ByteDance. The app is used by 170 million Americans. In 2024, the US Congress passed a law ordering TikTok's Chinese owners to sell the app's US assets by January 2025. However, it received extensions. On September 25, Donald Trump signed an executive order declaring that the plan to sell the company's US operations to a clutch of US and global investors would satisfy the security requirements. His administration gave ByteDance 120 days to complete the transaction. He said the law will be implemented in January 2026. Per the deal, TikTok's algorithm will be retrained and monitored by the US company's security partners. ByteDance will appoint one of the seven board members of the company's US operations. American citizens will occupy the remaining six positions. According to the deal, ByteDance would hold less than 20 per cent in TikTok's US operations. It will be closed down if it doesn't comply with the law by the deadline. US Representative John Moolenaar said this month that a licensing agreement for use of the TikTok algorithm would raise "serious concerns", reported Reuters.

TikTok-United States deal: The spokesperson said that the Chinese side will work with the United States “to properly address issues related to TikTok."

Top official claims China approved the transfer agreement of TikTok USA | Details

President Donald Trump said on Sunday that business leaders Rupert Murdoch, Lachlan Murdoch, Larry Ellison and Michael Dell would be involved as US investors in a proposed deal to keep TikTok operating in the United States. Trump has said the US and China have made progress on a deal requiring TikTok’s American assets to be transferred to US owners from China’s ByteDance.&nbsp;Murdoch, the CEO of Fox Corp, recently cemented long-term control of his family’s media empire that includes Fox News and the Wall Street Journal after settling a years-long legal battle with his siblings. The family patriarch, 94-year-old Rupert Murdoch, may also be involved in the deal, Trump said in an interview aired on Sunday.Trump also said that Michael Dell, the CEO of Dell Technologies, would be a part of the deal for the social media platform.&nbsp;Trump suggested that media mogul Rupert Murdoch and his son Lachlan, who lead News Corp and the Fox Corp., are involved in the deal for U.S. control of TikTok.&nbsp;&nbsp;&nbsp;

<blockquote class="twitter-tweet" data-media-max-width="560">.<a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a> says the investors in TikTok will be &quot;American patriots. They love this country. So, I think they&#39;re going to do a really good job.&quot; <a href="https://t.co/ekz38NbOe8">pic.twitter.com/ekz38NbOe8</a>&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1969783330523464145?ref_src=twsrc%5Etfw">September 21, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<h2>‘They’re very well-known people,’ says Trump </h2> “They’re very well-known people,” Trump told Fox News’ ‘The Sunday Briefing’ on being asked about who was involved in the TikTok deal.“Larry Ellison is one of them. He’s involved. This great guy, Michael Dell is involved. I hate to tell you this, but a man named Lachlan is involved. Do you know who Lachlan is? That’s a very unusual name, Lachlan Murdoch,” Trump added.However, NBC News reported that Lachlan Murdoch would not be involved in the TikTok deal individually, but that Fox Corp. would have a role.Trump’s remarks come a day after White House press secretary Karoline Leavitt shared details about the deal, after which the US would control TikTok’s algorithm.“This deal means that TikTok will be majority-owned by Americans in the United States. There will be seven seats on the board that controls the app in the United States, and six of those seats will be Americans,” Leavitt told Fox News. <h2>Trump sued Fox Corp and Rupert Murdoch in July</h2> Lachlan Murdoch officially took over Fox Corp. and News Corp this month, ending a long succession battle with his siblings.The Murdoch family media empire includes conservative-leaning news organisations like Fox News and The Wall Street Journal.While Trump and White House administration officials frequently appear on Fox News, the president is at odds with The Wall Street Journal. He sued Fox Corp and the elder Murdoch in July for $10 billion in damages after the Journal published an article saying that Trump had sent a letter to the late disgraced financier Jeffrey Epstein in 2003 that included a drawing of a naked woman.Ellison’s involvement was previously known, as the software and cloud computing company that he co-founded, Oracle, will manage the data and privacy aspects of TikTok, Leavitt said Saturday. Trump’s revelation that Dell will also be involved with TikTok was a new revelation. Trump said that there would be a “couple of others, really great people, very prominent people,” involved.“And they’re also American patriots, you know, they love this country, so I think they’re going to do a really good job,” he added. WATCH: BREAKING | Netanyahu On Palestinian Recognition, 'Huge Reward To Terrorism'<a href="https://www.wionews.com/videos/breaking-netanyahu-on-palestinian-recognition-huge-reward-to-terrorism-1758476139316/embed">https://www.wionews.com/videos/breaking-netanyahu-on-palestinian-recognition-huge-reward-to-terrorism-1758476139316/embed</a>

TikTok will be majority-owned by Americans in the United States. There will be seven seats on the board that controls the app in the United States, and six of those seats will be Americans, White House press secretary Karoline Leavitt shared with reporters on Saturday.

President Donald Trump said on Sunday that business leaders Rupert Murdoch, Lachlan Murdoch, Larry Ellison and Michael Dell would be involved as US investors in a proposed deal to keep TikTok operating in the United States. Trump has said the US and China have made progress on a deal requiring TikTok’s American assets to be transferred to US owners from China’s ByteDance. Murdoch, the CEO of Fox Corp, recently cemented long-term control of his family’s media empire that includes Fox News and the Wall Street Journal after settling a years-long legal battle with his siblings. The family patriarch, 94-year-old Rupert Murdoch, may also be involved in the deal, Trump said in an interview aired on Sunday. Trump also said that Michael Dell, the CEO of Dell Technologies, would be a part of the deal for the social media platform. Trump suggested that media mogul Rupert Murdoch and his son Lachlan, who lead News Corp and the Fox Corp., are involved in the deal for U.S. control of TikTok.

TikTok will be majority-owned by Americans in the United States. There will be seven seats on the board that controls the app in the United States, and six of those seats will be Americans, White House press secretary Karoline Leavitt shared with reporters on Saturday.

Murdochs, Dell, Ellison to have a role in TikTok after deal, says Trump

The negotiators in the United States and China have finalised a framework agreement on the transfer of the TikTok operations in the US. The broad contours of the proposed deal have not been officially released. However, reports claim that a consortium of investors will take over TikTok's operations in the country. Oracle Corp, Andreessen Horowitz, and private equity firm Silver Lake Management LLC might take over TikTok's&nbsp;operations after US President Donald Trump discusses and finalizes the deal following talks with Chinese President Xi Jinping on Friday.&nbsp;The agreement would&nbsp;create a US-based version of the social media application, and Oracle, Andreessen, and Silver Lake will be in the consortium&nbsp;of the new venture.<h2>Here are preliminary details of the US-China TikTok deal</h2>ByteDance Ltd.’s stake, which&nbsp;is the Chinese-owned parent company of TikTok, will be reduced to below 20 per cent, reported Bloomberg. The agreement was achieved&nbsp;in Madrid after hectic negotiations, months after the United States passed a law requiring the Beijing-based company to divest or face a ban in the American market. The US lawmakers cited national security concerns for not leaving the Chinese company any other choice but to relinquish control of its US operation.&nbsp;If the deal is finalised after Trump-Xi talks, the transaction would allow TikTok to operate in the US.&nbsp;Oracle, a cloud services giant, will continue providing its services to TikTok in the US. The company will host the data in the US. The endeavor will be called Project Texas.&nbsp;It isn't clear as of now the entire structure of the shareholding and which other companies or individuals will hold a stake in the social media giant.&nbsp;A Chinese official told the agency that the Chinese company can license an American company to develop its algorithm for the American operation.&nbsp;CNN reported, citing sources, that the consortium would also be operated by a majority-US board, including a member appointed by the Trump administration.

The negotiators in the United States and China have finalised a framework agreement on the transfer of the TikTok operations in the US. The broad contours of the proposed deal have not been officially released.

The negotiators in the United States and China have finalised a framework agreement on the transfer of the TikTok operations in the US. The broad contours of the proposed deal have not been officially released. However, reports claim that a consortium of investors will take over TikTok's operations in the country. Oracle Corp, Andreessen Horowitz, and private equity firm Silver Lake Management LLC might take over TikTok's operations after US President Donald Trump discusses and finalizes the deal following talks with Chinese President Xi Jinping on Friday. The agreement would create a US-based version of the social media application, and Oracle, Andreessen, and Silver Lake will be in the consortium of the new venture. Here are preliminary details of the US-China TikTok deal ByteDance Ltd.’s stake, which is the Chinese-owned parent company of TikTok, will be reduced to below 20 per cent, reported Bloomberg. The agreement was achieved in Madrid after hectic negotiations, months after the United States passed a law requiring the Beijing-based company to divest or face a ban in the American market. The US lawmakers cited national security concerns for not leaving the Chinese company any other choice but to relinquish control of its US operation. If the deal is finalised after Trump-Xi talks, the transaction would allow TikTok to operate in the US. Oracle, a cloud services giant, will continue providing its services to TikTok in the US. The company will host the data in the US. The endeavor will be called Project Texas. It isn't clear as of now the entire structure of the shareholding and which other companies or individuals will hold a stake in the social media giant. A Chinese official told the agency that the Chinese company can license an American company to develop its algorithm for the American operation. CNN reported, citing sources, that the consortium would also be operated by a majority-US board, including a member appointed by the Trump administration.

US-China TikTok framework agreement: US President Donald Trump and Chinese President Xi Jinping are expected to sign a deal after talks between them on Friday. A consortium, led by American investors, will reportedly lead the Byte Dance-owned company.

TikTok deal: Who will own ByteDance-owned firm's US operations? Contours of deal revealed

China has described the framework deal reached in Madrid to transfer TikTok’s US operations to American ownership as a “win-win.” Chinese state media said that the agreement was built on “mutual respect, peaceful coexistence and win-win cooperation.”<h2>Trump and Xi set for crucial call</h2>Investors are watching closely as US President Donald Trump and Chinese President Xi Jinping are expected to confirm the deal in a phone call on Friday. The outcome could set the tone for further economic talks between the two powers.Also read: <a href="https://www.wionews.com/trending/-we-don-t-want-to-be-sparta-israeli-business-leaders-slam-netanyahu-for-isolation-remarks-say-we-want-peace-1758082517127">'We don’t want to be Sparta' - Israeli business leaders slam Netanyahu for 'super-Sparta' remarks, say we want peace</a><h2>What does the deal mean for TikTok?</h2>The plan would transfer TikTok’s US assets from its Chinese parent company, ByteDance, to American owners. The app has more than 170 million users in the US, making the deal central to Washington’s demands for stronger local control.Also read: <a href="https://www.wionews.com/photos/-elect-a-rapist-expect-to-get-fu-ed-britons-troll-trump-as-windsor-castle-lights-up-with-epstein-images-1758075915188">'Dick-tator': Britons troll Trump, Windsor Castle lights up with Epstein images</a><h2>A repeat of an earlier deal</h2>Reuters reported that the agreement is similar to one that was worked out earlier this year but abandoned after Trump imposed heavy tariffs on Chinese imports. The revived version is now seen as a key step to stabilise relations between the two nations.Also read: <a href="https://www.wionews.com/world/kash-patel-not-up-to-the-job-us-senator-says-fbi-director-blew-it-with-his-handling-of-charlie-kirk-s-killing-case-1758046754195">Kash Patel ‘not up to the job’: US senator says FBI director ‘blew it’ with his handling of Charlie Kirk’s killing case</a><h2>China’s next steps</h2>The Communist Party’s People’s Daily, writing under the byline “Zhong Sheng” or “Voice of China”, said Beijing would review TikTok’s technology exports and intellectual property licensing “in accordance with the law.” US Treasury Secretary Scott Bessent, who met Chinese negotiators in Madrid this week, said that the 17 September deadline could be pushed back by 90 days to allow the deal to be finalised.

China hails a Madrid framework deal to shift TikTok’s US assets into American ownership as “win-win”, with Trump and Xi set for a key call shaping future US-China economic relations.

China has described the framework deal reached in Madrid to transfer TikTok’s US operations to American ownership as a “win-win.” Chinese state media said that the agreement was built on “mutual respect, peaceful coexistence and win-win cooperation.” Trump and Xi set for crucial call Investors are watching closely as US President Donald Trump and Chinese President Xi Jinping are expected to confirm the deal in a phone call on Friday. The outcome could set the tone for further economic talks between the two powers. Also read: 'We don’t want to be Sparta' - Israeli business leaders slam Netanyahu for 'super-Sparta' remarks, say we want peace What does the deal mean for TikTok? The plan would transfer TikTok’s US assets from its Chinese parent company, ByteDance, to American owners. The app has more than 170 million users in the US, making the deal central to Washington’s demands for stronger local control. Also read: 'Dick-tator': Britons troll Trump, Windsor Castle lights up with Epstein images A repeat of an earlier deal Reuters reported that the agreement is similar to one that was worked out earlier this year but abandoned after Trump imposed heavy tariffs on Chinese imports. The revived version is now seen as a key step to stabilise relations between the two nations. Also read: Kash Patel ‘not up to the job’: US senator says FBI director ‘blew it’ with his handling of Charlie Kirk’s killing case China’s next steps The Communist Party’s People’s Daily, writing under the byline “Zhong Sheng” or “Voice of China”, said Beijing would review TikTok’s technology exports and intellectual property licensing “in accordance with the law.” US Treasury Secretary Scott Bessent, who met Chinese negotiators in Madrid this week, said that the 17 September deadline could be pushed back by 90 days to allow the deal to be finalised.

China hails a Madrid framework deal to shift TikTok’s US assets into American ownership as “win-win”, with Trump and Xi set for a key call shaping future US-China economic relations.

China calls TikTok deal with US a 'win-win': Can Trump and Xi finally end the TikTok standoff?

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TikTok signs joint venture deal to avoid Trump’s ban threat in US

Top official claims China approved transfer agreement of TikTok USA | Details

Murdochs, Dell, Ellison to have a role in TikTok after deal, says Trump

TikTok deal: Who will own ByteDance-owned firm's US operations?

China calls TikTok deal with US a 'win-win' ahead of Trump, Xi call