TikTok picked an insider to lead its newly created US business, choosing an executive with deep ties to the entertainment world and history reporting up to ByteDance Ltd.’s leadership.

TikTok said it's finalized the details of a deal bringing its U.S. operations under the control of a joint venture majority owned by American investors.

Chinese social media giant TikTok, a platform for sharing short-form videos, recently closed a major deal that will allow it to continue its American operations smoothly, according to media outlet Pop

The yearslong saga over the future of TikTok’s American operations has finally reached a conclusion. The social media platform said on Jan. 23 that its US arm has been bought by a consortium led by Oracle Corp.

The Trump-backed deal to “save” TikTok fails to address core national security concerns, according to some experts – and even top lawmakers seem to be in the dark about whether it complies with Congress’s law that stated the app would be banned if it remained in Chinese hands.

Ban Dodged? TikTok Strikes Last-Minute Deal With American Investors in the US

After almost seven years, three US presidencies and a near-total ban, ByteDance Ltd. has secured a definitive victory in its standoff with Washington.