TikTok parent company finalizes deal to keep video-sharing app operating in the U.S.
Posted on: Jan 23, 2026 07:37 IST | Posted by: Cbc
TikTok's Chinese possessor, ByteDance, finalized a sell on th to go down up a legal age American-owned joint venture company to avoid a U.S. Ban on the popular social media app used by more than 200 million Americans.
The deal is a milestone for the video-sharing app after years of battles that began in August 2020, when U.S. President Donald Trump first tried unsuccessfully to ban it over national security concerns.
The new app will operate under "defined safeguards that protect national security through comprehensive data protections, algorithm security, content moderation and software assurances for U.S. Users," the company said in a statement Thursday.
The agreement provides for American and global investors, including cloud computing giant Oracle, private equity group Silver Lake and Abu Dhabi-based MGX, to hold a stake of 80.1 per cent in the new joint venture, while ByteDance will retain 19.9 per cent.
Adam Presser, who previously worked as TikTok's head of operations and trust and safety, will lead the new venture as its CEO. He will work alongside a seven-member, majority-American board of directors that includes TikTok's CEO Shou Chew.
Wide bipartisan majorities in Congress passed a law (signed by then-president Joe Biden) to ban TikTok in the U.S. If it did not find a new owner in place of China's ByteDance. The platform was set to go dark based on the law's January 2025 deadline. For a several hours, it did.
But on his first day in office, Trump signed an executive order to keep it running while his administration sought an agreement for the sale of the company.
The Trump administration extended the deadline multiple times. Meanwhile, Trump himself credited TikTok with helping him win the 2024 election.
Breaking down Trump’s TikTok deal
The White House launched its own TikTok account last year.
The Canadian government ordered TikTok to close its Canadian operations in November 2024 following a review of ByteDance, citing unspecified "national security risks."
Canada has not banned the app for users.
Global News Perspectives
In today's interconnected world, staying informed about global events is more important than ever. ZisNews provides news coverage from multiple countries, allowing you to compare how different regions report on the same stories. This unique approach helps you gain a broader and more balanced understanding of international affairs. Whether it's politics, business, technology, or cultural trends, ZisNews ensures that you get a well-rounded perspective rather than a one-sided view. Expand your knowledge and see how global narratives unfold from different angles.
Customizable News Feed
At ZisNews, we understand that not every news story interests everyone. That's why we offer a customizable news feed, allowing you to control what you see. By adding keywords, you can filter out unwanted news, blocking articles that contain specific words in their titles or descriptions. This feature enables you to create a personalized experience where you only receive content that aligns with your interests. Register today to take full advantage of this functionality and enjoy a distraction-free news feed.
Like or Comment on News
Stay engaged with the news by interacting with stories that matter to you. Like or dislike articles based on your opinion, and share your thoughts in the comments section. Join discussions, see what others are saying, and be a part of an informed community that values meaningful conversations.
Download the Android App
For a seamless news experience, download the ZisNews Android app. Get instant notifications based on your selected categories and stay updated on breaking news. The app also allows you to block unwanted news, ensuring that you only receive content that aligns with your preferences. Stay connected anytime, anywhere.
Diverse News Categories
With ZisNews, you can explore a wide range of topics, ensuring that you never miss important developments. From Technology and Science to Sports, Politics, and Entertainment, we bring you the latest updates from the world's most trusted sources. Whether you are interested in groundbreaking scientific discoveries, tech innovations, or major sports events, our platform keeps you updated in real-time. Our carefully curated news selection helps you stay ahead, providing accurate and relevant stories tailored to diverse interests.
No comments yet.