Reported 1 day ago
White House Press Secretary Karoline Leavitt announced that an agreement has been reached regarding TikTok's U.S. operations to be majority-owned by Americans, though the deal has yet to be signed. The restructuring will give Americans six out of seven board seats and U.S. control over the app's algorithm. New investors are expected to include Oracle and Andreessen Horowitz, while current owner ByteDance will retain less than 20%. President Trump noted that the deal has received approval from China's President Xi Jinping.
Source: YAHOO