TikTok, joint venture
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TikTok said that its Chinese owner, ByteDance, had struck a deal with a group of non-Chinese investors to create a new U.S. TikTok, concluding a six-year legal saga.
TikTok has at last finalized a deal to keep the popular video sharing platform operating in the U.S. after years of uncertainty, but questions remain about whether users' experience will change and whether the changes actually address security concerns around the app.
Trump has claimed the deal meets requirements for “qualified divestiture” to avoid a TikTok ban otherwise required under the Protecting Americans from Foreign Adversary Controlled Applications Act. However, questions remain, as lawmakers have not yet analyzed the terms of the deal to determine whether that’s true.
TikTok CEO Shou Zi Chew testifies before the House Energy and Commerce Committee on March 23, 2023 in Washington, DC. After years of unsuccessful negotiations, TikTok’s Chinese parent company ByteDance appears to have finally found a White House it can ...