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TikTok Seals Deal to Operate in the US

TikTok and its Chinese parent ByteDance Ltd. have closed a long-awaited deal to transfer parts of their US operations to American investors, securing the popular video app's future in the US and avoiding a nationwide ban. The social media company has officially established a US entity with three managing investors: Oracle, private equity firm Silver Lake Management LLC and Abu Dhabi-based investment company MGX. TikTok Chief Executive Officer Shou Chew - who will continue running ByteDance's mos