Remember back in September when President Donald Trump signed an executive order that seemingly finalized some of the terms of a deal to spin off TikTok’s US business? Three months later, that same deal is apparently one step closer to being official.
According to Bloomberg, TikTok CEO Shou Chew told employees that TikTok and ByteDance had signed off the agreement for control of TikTok’s US business. It sounds like terms of the deal are roughly the same as what Trump announced earlier this year. A group of US investors, including Oracle, Silver Lake and MGX will control a majority of the new entity while ByteDance will keep a smaller stake
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