ByteDance relinquishes control of local TikTok to US investors
In a final act to a long-running geopolitical drama, TikTok has officially closed a deal to divest its U.S. operations. The agreement, finalized just hours before the Trump Administration’s ban deadline, sees parent company ByteDance shift to a minority position, retaining only a 20% stake in the new entity. The remaining 80% ownership is now…