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TikTok will avoid a U.S. ban after Chinese owner ByteDance agreed to a joint venture

TikTok has avoided a potential ban in the United States after its parent company ByteDance agreed to a joint venture with American investors, allowing U. S. control over its operations. This agreement aims to address national security concerns while maintaining a presence in the U. S.

TikTok will avoid a U.S. ban after Chinese owner ByteDance agreed to a joint venture

Credit: Yahoo

Key Highlights

  • ByteDance will reduce its ownership of TikTok's U. S. assets to under 20%.
  • The new entity formed will be TikTok USDS Joint Venture LLC.
  • The agreement is a response to legislation demanding divestment to avoid a ban.
  • TikTok has over 2 billion users globally.
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Sources

  1. TikTok will avoid a U.S. ban after Chinese owner ByteDance agreed to a joint venture
  2. TikTok avoids U.S. ban after ByteDance agrees to investor deal

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

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