TikTok’s owners have agreed to sell most of their US business to investors to avoid a shutdown.
TikTok said the deal would allow “more than 170 million Americans to continue discovering a world of unlimited opportunities and being part of a vital global community.”
The deal is set to close on January 22. This would end years of Washington’s efforts to compel ByteDance to divest its U.S. operations. The US government has raised national security concerns about the deal.
In April 2024, under the Biden administration, the US Congress passed a law that would ban TikTok on national security grounds unless the company is sold.
