TikTok Sale Gains Momentum as Trump Signs Executive Order Approving Deal

U.S. President Donald Trump today signed an executive order approving a deal that would see TikTok’s U.S. operations largely sold off, reports CNBC. The deal would allow TikTok to comply with U.S. law requiring the social media service to be sold to a non-Chinese company or be banned from operating in the country.

A joint-venture company that includes Oracle, Silver Lake, and Abu-Dhabi-based MGX investment fund will oversee TikTok’s U.S. operations, with TikTok parent company ByteDance retaining less…