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TikTok U.S. Sale to Oracle-Led Group Set to Close in January
TikTok has agreed to sell its U.S. operations to an investment group that includes Oracle, Silver Lake, and UAE-based company MGX, reports Axios. The "TikTok USDS Joint Venture LLC" that includes the three companies will own 45 percent of TikTok, while ByteDance will keep close to 20 percent. Existing investors will continue to hold the remaining shares. The U.S. group will handle U.S. data protection and content moderation, while also maintaining algorithm security.
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