In a landmark move that ends years of legal and political uncertainty, TikTok CEO Chew Shou Zi informed employees on Thursday that the company has signed a binding agreement to divest its US entity into a joint venture controlled by a consortium of American investors.
The deal, which has received the backing of US President Donald Trump, effectively averts a looming nationwide ban and secures the platform’s future for its 170 million American users.
The new entity, named TikTok USDS Joint...
TikTok reaches deal on new US venture with American investor group
Published 2 hours ago
Source: scmp.com
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