TikTok CEO Shou Chew sent an internal memo on December 18 to employees outlining the company’s next steps. The note, seen by The Hollywood Reporter and Reuters, explains how a joint venture between three companies will help TikTok avoid a long-delayed ban in the US. The memo confirms that a new consortium of investors plans to take a 50% stake in the US business under the name TikTok USDS Joint Venture LLC. Oracle, Silver Lake, and Abu Dhabi’s state-owned investment firm MGX each plan to take 15%, with the remaining 5% taken by other unnamed investors.TikTok briefly went dark in January due to a law requiring ByteDance to divest its ownership of its US business. It returned when incoming President Donald Trump promised not to go after US app stores that hosted the app while a deal was worked out. Do you think that Bytedance is being forced to divest ownership ?
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