Story perspectives

China Approves TikTok Sale Amid U.S. Ownership Shift

10/31/2025

32 4

Summary

Story summary

Chinese government approved a transfer agreement for TikTok that allows U.S. operations to move forward under new ownership.
Scott Bessent announced development and cited 2024 law requiring ByteDance to sell its U.S. assets by January 2025.
The deal leaves ByteDance with under 20 percent ownership and assigns Americans six of seven board seats.
Representative John Moolenaar and other lawmakers have raised concerns about a licensing agreement for TikTok's algorithm.

1 of 1

Story summary

Chinese government approved a transfer agreement for TikTok that allows U.S. operations to move forward under new ownership.
Scott Bessent announced development and cited 2024 law requiring ByteDance to sell its U.S. assets by January 2025.
The deal leaves ByteDance with under 20 percent ownership and assigns Americans six of seven board seats.
Representative John Moolenaar and other lawmakers have raised concerns about a licensing agreement for TikTok's algorithm.