TikTok deal signed: A coalition of investors from Oracle, MGX, and Silver Lake has agreed to buy TikTok and run an American version of the company, separate from ByteDance's ownership.
"The deal is aimed at helping TikTok comply with a federal law, which banned the app in the United States in January out of concern that Beijing could use it to gain access to Americans' sensitive data or to spread propaganda," reports The New York Times. President Donald Trump "has delayed enforcement of the ban repeatedly. The Thursday order gives negotiators until mid-January to finalize the deal."
MGX is technically not American; it's an investment firm that was established by the government of Abu Dhabi in 2024. Emiratis tend to have very strong ties with China. But who's counting?
