TikTok announces it has finalized deal to establish US entity, sidestepping ban
Majority US-owned venture includes Larry Ellison’s Oracle, private-equity group Silver Lake and Abu Dhabi’s MGX TikTok announced on Thursday it had closed a deal to establish a new US entity, allowing it to sidestep a ban and ending a long legal battle. The deal finalized by ByteDance, TikTok’s Chinese owner, sets up a majority American-owned venture, with investors including Larry Ellison’s Oracle, the private-equity group Silver Lake and Abu Dhabi’s MGX owning 80.1% of the new entity, while ByteDance will own 19.9%. This article was amended on 23 January 2026 to clarify that the new board includes a senior advisor to TPG, not a current TPG executive. Continue reading...
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