TikTok picked an insider to lead its newly created US business, choosing an executive with deep ties to the entertainment world and history reporting up to ByteDance Ltd.’s leadership.

TikTok has finalized a deal to sell parts of its US business. Oracle, Silver Lake, MGX, and Michael Dell are part of the consortium of new investors.

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.

After almost seven years, three US presidencies and a near-total ban, ByteDance Ltd. has secured a definitive victory in its standoff with Washington.

TikTok has closed a joint-venture deal for its US business, handing over some operational control to an investor group.

After years of uncertainty over whether TikTok would be banned in U.S., the viral social media platform has officially finalized its deal to create a U.S. joint venture.

Sen. Ed Markey (D-Mass.) called for an investigation Friday into a deal that saw TikTok’s American business spun off into a separate entity in order to allow the app to continue operating in the U.S.

The Trump-backed deal to “save” TikTok fails to address core national security concerns, according to some experts – and even top lawmakers seem to be in the dark about whether it complies with Congress’s law that stated the app would be banned if it remained in Chinese hands.

Des[ite pressure from the Donald Trump administration, Chinese apps continued to dominate download list in the United States last year. Here's how ByteDance's TikTok and CapCut, and fashion retailers Temu and Shein fared.