Scoop: TikTok signs deal for sale of U.S. unit after years-long saga
TikTok has signed a deal to divest its U.S. entity to a joint venture controlled by American investors, per an internal memo seen by Axios. Why it matters: A deal would end a years-long saga to force TikTok's Chinese parent ByteDance to sell the company's U.S. operation to domestic owners, in order to alleviate national security concerns.Zoom in: The agreement is set to close on January 22, per an internal memo sent by CEO Shou Chew. Oracle, Silver Lake and Abu Dhabi-based MGX will collectively...
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