The White House’s campaign to “save” TikTok may soon be over—with President Donald Trump’s billionaire pals expected to emerge victorious. The Chinese-owned social media giant has signed a deal to sell its U.

In September, President Donald Trump signed an executive order extending the TikTok ban through Jan. 23, 2026.

TikTok has signed the deal backed by President Donald Trump to spin off its US assets to create a new entity with a group of mostly American investors, CEO Shou Chew told employees in a memo Thursday.

TikTok signs deal to sell U.S. operations to American investors including Oracle and Silver Lake, ending years-long battle over ByteDance ownership.

TikTok, which is owned by China’s ByteDance, has inked an agreement to sell a majority of its US business to three investors. The deal, which is slated to close on January 22, 2026, brings to an end years of contentious back-and-forth between the United States and China over control of TikTok.

TikTok CEO Shou Chew told employees of the social media app Thursday that its owner, China’s ByteDance, has signed binding agreements to create a joint venture for the app in the United States, as agreed to in a deal with the Trump administration.

TikTok has signed a deal to form a new U.S. joint venture controlled by mostly American investors that include Oracle Corporation, Silver Lake and MGX, according to an internal memo sent by TikTok CEO Shou Chew and obtained by ABC News.

President Donald Trump has postponed the ban on TikTok five times this year. The clock is still ticking for TikTok. You've probably noticed certain videos posted to the popular social media site were counting down to Dec.

The president signed an executive order on Thursday that paves the way for the popular Chinese app to be owned by American investors Kent Nishimura/Bloomberg via Getty; Jaque Silva/SOPA Images/LightRocket via Getty President Donald Trump signed an ...

President Donald Trump on Thursday signed an executive order that allows TikTok's U.S. operations to be moved away from the social media app's China-based owner ByteDance. The deal will see TikTok's U.S. operations separated from ByteDance to comply with ...

TikTok came one step closer to finalizing its divestment deal to continue operating in the United States on Thursday.

Since October, there has been no formal word on a deal between the Trump administration and China over the app.