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ByteDance expected to maintain big role in new US TikTok, sources say
ByteDance will remain the largest minority shareholder in the $14 billion U.S. TikTok entity while ceding control of user data and algorithms to a new joint venture.
- On Thursday, the U.S. government issued an executive order directing the sale of TikTok’s American operations to a group of investors that includes Oracle and Silver Lake.
- This followed a 2024 law mandating that ByteDance sell off its U.S.-based assets to mitigate national security risks or otherwise face prohibition.
- The new U.S. TikTok will be split into two companies, with ByteDance retaining ownership of business operations but ceding control of data and algorithm to a joint venture.
- Vice President JD Vance indicated that the new U.S. firm is expected to have an estimated value of $14 billion, while John Moolenaar, chair of the House China Committee, promised thorough oversight and emphasized that the agreement must prevent any operational connections with ByteDance.
- The structure suggests ByteDance maintains a significant minority stake, raising questions about the completeness of the divestiture and Congress's scrutiny going forward.
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·United States
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Coverage Details
Total News Sources8
Leaning Left3Leaning Right0Center4Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
L 43%
C 57%
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