The deal comes more than a year after Congress passed a law that forced its owner ByteDance to divest its US operations or face a ban.

TikTok has signed agreements with investors to establish a new U.S. joint venture, a move CEO Shou Chew said advances the company toward resolving a yearslong battle over its U.S. operations.

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

Social media giant TikTok struck an agreement to put its U.S. operations under the majority control of U.S. investors, according to an internal memo sent by TikTok CEO Shou Chew and obtained by ABC News. The move paves the way for the China-based platform to escape legal peril months after a ban was set to rid it from app stores.

So will TikTok be officially banned in the U.S. on Jan. 23, 2026, 368 days after the original ban was said to go ahead? Your guess is as good as ours — but given the evidence of the past year, it probably wouldn't be wise to bet your life savings on it.

TikTok announced a deal to sell its U.S. assets to a group of three companies. One of them was co-founded by this Florida billionaire.

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

WASHINGTON -- President Joe Biden on Thursday revoked a series of executive orders signed during the Trump administration targeting TikTok, WeChat and other Chinese apps, and replaced them with a new executive order addressing apps linked to foreign ...

ByteDance and TikTok have signed "binding agreements" with three managing investors: Oracle Corporation, Silver Lake and Abu Dhabi-based MGX, to form a new TikTok U.S. joint venture named TikTok USDS Joint Venture LLC,