Washington — TikTok has signed a deal to sell its U.S. operations to a consortium of American investors, CBS News has confirmed.
Axios was first to report the deal.
Under a law passed last year, TikTok’s China-based parent company, ByteDance, must either sever ties with the social media platform’s American operations or lose access to U.S. app stores and web-hosting services. The law set a January 2025 deadline, but President Trump has extended it several times, most recently until Jan. 23, 2026.
In September, Mr. Trump signed an executive order paving the way for a deal brokered by his administration to keep TikTok operating in the U.S. under a new corporate structure with American investors.
A senior White House official said in September that under the proposed deal, ByteDance’s content recommendation algorithm that powers TikTok will be copied and retrained to run solely on the data of its U.S. user base. Cloud-computing firm Oracle will provide “top to bottom security” by hosting Americans’ user data and reviewing the app’s code to ensure “the algorithm is behaving appropriately and it’s secure,” the official said.
This is a breaking story and will be updated.
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