"After months of delays and extended deadlines, it appears a deal that would allow TikTok to continue operating in the United States on a permanent basis is in its final stages. That's good. And, well, maybe not so good. For months, ByteDance, the Chinese owner of TikTok, faced an ultimatum: either divest the platform's American business or be shut down. That's because of the U.S. government's fears about ByteDance sharing Americans' personal data with the Chinese government - something ByteDance said it would never do."
"On Thursday, however, he signed an executive order readying the platform for sale - moving a step closer to a final deal. CBS News' Caitlin Yilek reported, "According to a senior White House official, under the deal, ByteDance's content recommendation algorithm that powers TikTok will be copied and retrained to run solely on the data of its U.S. user base." Vice President JD Vance says the U.S.-based version of TikTok will be valued at $14 billion."
A deal appears in final stages to allow TikTok to continue operating in the United States permanently. ByteDance faced an ultimatum to divest its American business or face a shutdown over U.S. concerns that Chinese ownership could enable sharing of Americans' personal data. President Trump signed an executive order readying the platform for sale, and the deal calls for copying and retraining TikTok's recommendation algorithm to run only on U.S. user data. Vice President JD Vance values the U.S. business at $14 billion. Oracle, Silver Lake and Abu Dhabi's MGX are slated to control roughly 45%, with ByteDance retaining 19.9% and 35% held by other investors.
Read at Poynter
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