TikTok finalizes deal for its US entity

TikTok has finalized a deal for its US entity, TikTok USDS Joint Venture, with ByteDance retaining a 19.9 percent stake and the rest controlled by non-Chinese investors including Oracle, Silver Lake, and MGX. The new entity will protect US users' data, retrain TikTok’s algorithm, and handle content moderation. The joint venture also includes CapCut and Lemon8, with a seven-member board of directors overseeing operations.