TikTok announced on Thursday that it had closed a deal to establish a new US entity, allowing it to sidestep a ban and ending a long legal battle.
The deal finalized by ByteDance, TikTok’s Chinese owner, sets up a majority American-owned venture, with investors including Larry Ellison’s Oracle, the private-equity group Silver Lake and Abu Dhabi’s MGX owning 80.1% of the new entity, while ByteDance will own 19.9%.
In September, Trump signed another executive order, which outlined a plan for US investors to take over the majority of the company’s operations and for the new version of TikTok to be controlled by a seven-member, majority-American board of directors of cybersecurity and national security experts.
Adam Presser, who previously served as TikTok’s general manager and global head of operations and trust and safety, would serve as CEO of the new venture, the company said on Thursday. The board will include Shou Chew, TikTok’s CEO.




Trump withdraws invitation for Canada to join his global ‘board of peac
Many of the countries that signed on to join President Trump’s “Board of Peace” to stabilize Gaza are also banned from immigrant visas by the State Department.
Israeli forces on Wednesday killed at least 11 Palestinians in Gaza, including two 13-year-old boys, three journalists and a woman, hospitals said, on one of the war-battered enclave ‘s deadliest days since the ceasefire between Hamas and Israel took effect in October.





























