White House offers more details about potential TikTok deal
Yahoo Financeยท2025-09-20 20:09
Group 1 - An agreement has been reached for TikTok's U.S. operations to be spun out under majority American ownership, with Americans holding six of seven board seats [1] - The deal is anticipated to be signed in the coming days, with new investors including Oracle, Andreessen Horowitz, and Silver Lake Management [2] - Current owner ByteDance is expected to own less than 20% of the newly spun-off company [2] Group 2 - President Trump has extended the deadline for a U.S. bill that bans TikTok if it is not sold to new owners, indicating that China's President Xi Jinping has approved the deal [3]