TikTok announces it has finalized deal to establish US entity, sidestepping ban

Majority US-owned venture includes Larry Ellison's Oracle, private-equity group Silver Lake and Abu Dhabi's MGX

TikTok announced on Thursday it had closed a deal to establish a new US entity, allowing it to sidestep a ban and ending a long legal battle.

The deal finalized by ByteDance, TikTok's Chinese owner, sets up a majority American-owned venture, with investors including Larry Ellison's Oracle, the private-equity group Silver Lake and Abu Dhabi's MGX owning 80.1% of the new entity, while ByteDance will own 19.9%.

This article was amended on 23 January 2026 to clarify that the new board includes a senior advisor to TPG, not a current TPG executive.