The White House is spearheading negotiations on the future of TikTok, with discussions centering around a plan for major United States investors in parent company ByteDance to increase their stakes and acquire the app’s U.S. operations, sources familiar with the talks revealed.
The proposed deal would create a separate U.S. entity for TikTok, reducing Chinese ownership below the 20% threshold required by U.S. law. This move aims to prevent a nationwide ban on the popular video-sharing platform, which has been under scrutiny over national security concerns.
Investment firms Susquehanna International Group and General Atlantic, both represented on ByteDance’s board, are leading the discussions alongside the White House. Private equity firm KKR is also involved, one source confirmed. The discussions come after legislation passed last year mandated ByteDance to sell TikTok or face a U.S. ban due to fears of Chinese government influence.