TikTok¡¯s long-delayed plan to separate from Chinese parent ByteDance was put in motion Thursday when the video sharing sensation said it¡¯s being bought by a group of buyers led by Oracle Corp.
TikTok CEO Shou Chew told employees that the company and ByteDance signed binding agreements to create a U.S. joint venture majority-owned by American investors, according to an internal memo. Chew wrote that he was ¡°pleased to share some great news¡± and said agreements with Oracle, Silver Lake Management and MGX have been signed. The deal is expected to close on Jan. 22, 2026, though Chew added that ¡°there¡¯s more work to be done¡± before then.
Chinese regulators have yet to say whether they¡¯ll approve the transaction.
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