TikTok’s Chinese owner, ByteDance, signed binding agreements with three major investors to sell just over 80% of the company’s US assets to American and global investors to avoid a US government ban, TikTok CEO Shou Zi Chew told employees on Thursday.The deal is a major step toward resolving years of uncertainty about the short video app’s future in the US since August 2020, when then President Trump first tried unsuccessfully to ban the app that is now used regularly by more than 170 million Americans.The ...

In a memo to employees TikTok CEO Shou Chew said Thursday the long-awaited creation of a joint venture to oversee the U.S. part of the China-based video platform is finally about to close. The JV will take effect on January 22, Chew said. Axios first reported on the memo, whose contents were confirmed to Deadline by a person familiar with the separation process. The transaction, set in motion by a Congressional order that survived an appeal to the U.S. Supreme Court, will force China’s ByteDance to sell th ...