TikTok CEO Shou Chew told employees that owner ByteDance had signed binding agreements to create a new joint venture for the app in the United States.

TikTok inked a deal to sell its U.S. entity to a joint venture group with several American investors on Thursday, CEO Shou Zi Chew said in an internal company memo. The deal follows months of the Trump administration attempting to reach an agreement with Chinese-based TikTok owner ByteDance to delay a Supreme Court ruling that

The deal with Oracle, Silver Lake and MGX ends years of uncertainty about the popular video-sharing platform's fate in the U.S.

TikTok is nearly to the finish line to become legal in the U.S. ByteDance and TikTok have signed “binding agreements” with three managing investors: Oracle Corporation, Silver Lake and Abu Dhabi-based MGX,

TikTok has agreed to sell its U.S. operations to an investment group that includes Oracle, Silver Lake, and UAE-based company MGX, reports Axios. The "TikTok USDS Joint Venture LLC" that includes the three companies will own 45 percent of TikTok,

TikTok has signed a deal to sell its U.S. business to three American investors — Oracle, Silver Lake and MGX — ensuring the popular social video platform can continue operating in the United States.

The deal means that TikTok, the fast-growing social video platform that upended the strategies of competitors like YouTube and Meta Platforms Inc., will have a new joint venture owner in the U.S.: TikTok USDS Joint Venture LLC.

TikTok have signed binding agreements. Oracle Inc., private equity firm Silver Lake Partners LP, and Emirati-backed investment firm MGX will together own 50% of the U.S. business. Close to 30% of the joint venture will be held by “affiliates of certain existing investors in ByteDance,