TikTok has finalized a deal to sell enough of its US business satisfy the divest-or-ban law, as initially reported by Axios, The Hollywood Reporter, and CNBC. According to a memo sent from CEO Shou Zi Chew to employees (included in full below) on Thursday, they are targeting a closing date of January 22nd, 2026. Once the deal is done, he writes that ownership stakes in TikTok USDS Joint Venture LLC will break down as follows:

Specifically, the U.S. joint venture will be 50% held by a consortium of new investors, including Oracle, Silver Lake and MGX with 15% each; 30.1% held by affiliates of certain existing investors of ByteDance; and 19. …

Read the full story at The Verge.