TikTok says it signed agreements for new U.S. joint venture [Los Angeles Times (CA)]
Oracle Corporation (ORCL)
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Source: Los Angeles Times
In an internal memo reviewed by Bloomberg, Chew said he was “pleased to share some great news” and said agreements with Oracle Corp., Silver Lake and MGX have been signed. Chew gave a closing date of Jan. 22, 2026. “Upon the closing, the US joint venture, built on the foundation of the current TikTok US Data Security (USDS) organization, will operate as an independent entity with authority over US data protection, algorithm security, content moderation and software assurance,” Chew said in the memo. Meanwhile, “TikTok global's U.S. entities will manage global product interoperability and certain commercial activities, including e-commerce, advertising, and marketing,” he wrote. The memo outlined a deal that matched what the White House announced in September, which was pending approval from China. Chew's memo does not mention China's opinion on the transaction. It says 50% of the investors will be new, with Oracle, Silver Lake and MGX, an Abu Dhabi-based investment company, retai
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News
- TikTok finalizes agreements for U.S. joint venture with consortium, Bloomberg says [Yahoo! Finance]Yahoo! Finance
- TikTok U.S. Joint Venture Deal Set to Close in January With Investors Including Oracle, Silver Lake [Yahoo! Finance]Yahoo! Finance
- TikTok Says It Signed Agreements to Create New US Joint Venture [Yahoo! Finance Canada]Yahoo! Finance Canada
- TikTok Says It Signed Agreements to Create New US Joint Venture [Yahoo! Finance]Yahoo! Finance
- Retail chain shuts all locations as legal changes hit industry [Yahoo! Finance]Yahoo! Finance
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