WASHINGTON -- The U.S. operations of TikTok will be moved from Chinese owner ByteDance to a new American-owned joint venture with Oracle and private equity firm Silver Lake among its owners, in a move to make the app "safe and secure," a senior White House official told reporters Monday.
US-China tensions
TikTok US operations to move to joint venture backed by Oracle, Silver Lake
Algorithm to be retrained, operated and monitored by US entity, White House says
A law that came into effect last year stipulated that ByteDance must divest TikTok's U.S. operations or face a nationwide ban.
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