TikTok owner ByteDance has agreed a deal to hand control of the video-sharing platform’s US operations to a group of investors, and avoid a ban.

The Chinese company has signed a legally binding contract that will see TikTok US operated by a joint venture (JV) led by Oracle.

ByteDance will retain 19.9 percent of the JV, while Oracle, and investment funds Silver Lake and Abu Dhabi’s MGX, will hold 15 percent each.

Remaining shares in the JV will go to existing ByteDance investors, including Susquehanna International, KKR, and General Atlantic.

The deal was first unveiled in September, and will go through on January 22, 2026. If completed, it will mark the end of a long-running saga around the ownership of TikTok US.

American lawmakers have long sought to ban the Chinese-owned platform, citing national security concerns.

A TikTok ban was passed by the House, Senate, and then-President Joe Biden in January 2025, but has been extended by US President Donald Trump four times as talks over the platform’s ownership continued.

Oracle has long led acquisition discussions, and was set to acquire the business in partnership with Walmart during a separate ban attempt under Trump's first term. While that deal fizzled with Trump's election loss, TikTok moved its US cloud services to Oracle in an attempt to assuage national security fears.

Under the new deal, should it go through, it is thought Oracle would continue to serve as TikTok US' cloud provider.