
TikTok CEO Shou Chew told employees of the social media app Thursday that its owner, China’s ByteDance, has signed binding agreements to create a joint venture for the app in the United States, as agreed to in a deal with the Trump administration. Limited time: Save 25% on NBC News subscription Get exclusive reporting, live Q&As and ad-free reading. That deal means the U.S. version of TikTok will become majority-owned by American investors, according to a memo obtained by NBC News.
Main Idea: ByteDance says it has signed binding deals to create a new U.S. TikTok joint venture that would give American investors majority control.
Key Points:
US users may still face privacy and content risks because a new American-led TikTok board must prove it can secure data and moderation.
The deal could keep TikTok running for millions of Americans and limit a sudden ban that would hurt users and small creators.
Rate how each entity in this article affected the American people.
TikTok’s owner and the company signing the binding agreement to create the U.S. joint venture.
Named major investor in the new joint venture and a central market actor in the deal.
TikTok CEO who informed employees about the binding agreements and described the deal terms.
His administration is directly tied to the agreement and the delay of the TikTok ban.
Treasury Secretary who reached the framework deal with China that led to the agreement.
Named investor in the U.S. joint venture and part of the ownership shift.
Chinese president referenced in the bilateral negotiations that helped clear the deal.
Named in connection with the negotiation and comment request on the deal.
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Sign in to commentMentioned because of the Ellison family’s ownership tie and Trump administration approval context.
Mentioned as the target of a separate bid by David Ellison, adding corporate context.