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The TikTok deal is done - TikTok is now under new ownership in the US (www.theverge.com)

submitted 3 days ago by along_the_road@beehaw.org to c/technology@beehaw.org

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[–] along_the_road@beehaw.org 10 points 3 days ago

With approval from both the US and China closing on the schedule laid out in December, ByteDance’s ownership of the new joint venture is now only 19.9 percent to satisfy the terms of the divest-or-ban law signed in 2024 by President Biden. The other 80.1 percent is owned by investment firm Silver Lake, Oracle, and Abu Dhabi investment firm MGX — the three “managing investors” that now hold 15 percent stakes — and several other smaller investors, like Michael Dell’s family investment firm.