Trump Approves TikTok Deal with Oracle and Silver Lake to Avert Ban

TikTok finalized a joint venture agreement with American investors to continue operations in the USA and avoid a nationwide ban.Adam Presser will lead the venture as it transfers majority ownership to Oracle, Silver Lake, and MGX while ByteDance retains a 19.9 percent stake.Trump approved the arrangement following an executive order that allowed the platform to resolve national security concerns through local data storage and algorithm licensing.