TikTok finalizes a deal to form a new US unit | AP News

TikTok has finalized a deal to create a new American entity, avoiding the looming threat of a ban in the U.S. that has been in discussion for years. The social video platform signed agreements with major investors including Oracle, Silver Lake and MGX to form the joint venture. The new version will operate under 'defined safeguards' with an emphasis on data protections and software assurances for U.S. users.