TikTok's parent company ByteDance has signed binding agreements to sell 80.1% of its U.S. assets to a group of investors to avoid a federal ban. The deal establishes TikTok USDS Joint Venture LLC, with Oracle, Silver Lake, and MGX each taking a 15% stake. ByteDance will retain a 19.9% share, while existing ByteDance affiliates will hold 30.1%. The transaction is expected to close on January 22.