ByteDance Finalizes Deal for Majority American-Owned TikTok Venture

ByteDance has finalized a deal to create the TikTok USDS Joint Venture, a majority American-owned entity that ensures the application remains operational for 200 million users in the USA.Following a years-long dispute and a brief service disruption, Trump praised the resolution and thanked Xi Jinping for approving the structure where Oracle, Silver Lake, and MGX each hold 15 percent stakes.Under the leadership of CEO Adam Presser, the new venture will isolate American user data in Oracle’s cloud and retrain its recommendation algorithms to meet strict national security requirements.