TikTok Finalizes US Entity Deal, Trump Thanks Xi Jinping for Approval

• TikTok has finalized an agreement to establish a new US-based entity, easing the threat of a nationwide ban.
• Binding agreements were signed with investors including Oracle, Silver Lake, and MGX to create a TikTok US joint venture.
• The new structure will operate with safeguards for national security, data protection, algorithm security, and content moderation for US users.
• Donald Trump welcomed the deal, thanking US Vice President Vance and Chinese President Xi Jinping for their roles.
• Adam Presser will serve as CEO of the new US venture, with a seven-member board majority of American directors; ByteDance retains a 19.9% share.

Why It Matters: TikTok secures its US operations with a new entity and investor deal, averting a ban.