TikTok secures deal with US owners Oracle, MGX, and Silver Lake, focusing on national security-related tasks. ByteDance will maintain control over key business lines such as e-commerce and advertising. New investors will not control core business aspects like TikTok Shop or ad sales, but may participate in profits. The deal gives Oracle, Silver Lake, and MGX a 45% stake in the US joint venture, with ByteDance retaining just under 20% ownership. This shift in ownership structure maintains ByteDance’s influence over strategic direction while addressing national security concerns. The agreement could set a precedent for similar arrangements in tech companies.

Read more at Yahoo Finance: Leaked Memo Reveals Why TikTok’s New US Owners May Have Less Power Than Expected