TikTok Update: US Valuation, Profit-Share Plans, China Concerns

September Politburo meeting; Plenum dates; US expands Entity listings; US TikTok deal

President Trump has certified that the mooted TikTok deal is a “qualified divestiture” under the Protecting Americans from Foreign Adversary Controlled Applications Act. We do not have all the details, but from what we have so far, it is a convoluted deal that looks more like a rehashed variant of Project Texas than a true divestiture, but that does not not matter as no matter will challenge the President’s determination in court. TikTok will st…

ByteDance set for outsized share of US profits under TikTok deal

Washington and Beijing’s TikTok deal will hand ByteDance roughly 50% of the app’s American profits despite US shareholders owning the majority of the business, according to people familiar with the talks, reports the Financial Times. Five people briefed on the deal, which the White House said valued the spin-off at $14 billion, said that valuation related to […]

TikTok update: US valuation, profit-share plans, China concerns

More details are emerging of the deal that has been brokered – at least according to the US administration – to preserve TikTok in the US. The post is from Music Ally.