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China's ByteDance signs deal to form joint venture in step to avoid US TikTok ban

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TikTok's Chinese owner, ByteDance, on Thursday signed binding agreements to hand control of the short video app's U.S. operations to a group of investors, including Oracle, opens new tab, in a big step toward avoiding a U.S. ban and ending years of uncertainty.

The deal is a milestone for the short video app used regularly by more than 170 million Americans after years of battles that began in August 2020, when President Donald Trump first tried unsuccessfully to ban the app over U.S. national security concerns.

Read more from Reuters.

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