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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…