US EditionPublished • loading... • Updated
ByteDance expected to maintain big role in new US TikTok, sources say
ByteDance will keep control of TikTok's revenue operations while U.S. partners manage data and algorithms to address national security concerns, the new venture valued at $14 billion.
- On Thursday, the U.S. government issued an executive order directing the sale of TikTok’s American operations to a group of investors that includes Oracle and Silver Lake.
- This followed a 2024 law mandating that ByteDance sell off its U.S.-based assets to mitigate national security risks or otherwise face prohibition.
- The new U.S. TikTok will be split into two companies, with ByteDance retaining ownership of business operations but ceding control of data and algorithm to a joint venture.
- Vice President JD Vance indicated that the new U.S. firm is expected to have an estimated value of $14 billion, while John Moolenaar, chair of the House China Committee, promised thorough oversight and emphasized that the agreement must prevent any operational connections with ByteDance.
- The structure suggests ByteDance maintains a significant minority stake, raising questions about the completeness of the divestiture and Congress's scrutiny going forward.
Insights by Ground AI
9 Articles
9 Articles
Being used as a geopolitical pawn is never good, but ByteDance has avoided the worst. Five years after Donald Trump ordered the group to sell TikTok's operations in the U.S. or face a ban for national security reasons, it seems that the agreement that will keep the application in the country operational has the approval of both governments.
·Spain
Read Full Article
ByteDance to Get About 50% of TikTok US Profit Under Trump Deal
TikTok’s Chinese parent company will likely get about half of the profit from the platform’s US operation even after it sells majority ownership to American investors as part of a deal orchestrated by President Donald Trump, according to people familiar with the matter.
·United States
Read Full Article
Coverage Details
Total News Sources9
Leaning Left4Leaning Right0Center4Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
50% Center
L 50%
C 50%
Factuality
To view factuality data please Upgrade to Premium
