China-based ByteDance reportedly signed binding deals with investors led by Oracle to transfer control of its US operations, a move designed to help it avoid a ban in the country.

Bloomberg reported investors including Oracle, private equity player Silver Lake and Abu Dhabi investment company MGX will take an 80.1 per cent stake in a new TikTok USDS joint venture, while ByteDance will retain 19.9 per cent.

The news outlet reported it had seen an internal memo from TikTok CEO Shou Chew, who revealed the deals had been signed and the transactions were expected to close on 22 January 2026.

Chew apparently added “there’s more work to be done before then”.

Should the deals close, TikTok will operate as an independent US joint venture, controlling data, content moderation and algorithm security, Chew added. It will be governed by a new seven-member US majority board of directors.

The deal is significant, potentially ending years of uncertainty around the future of TikTok in the US. President Donald Trump first began a campaign to have the social media app banned in 2020 due to security concerns given its Chinese ownership.

In September this year, Trump signed an executive order to split off TikTok from ByteDance, allowing US investors to hold a majority stake in the new entity.

CNBC reported at the time the trio of companies that have now been named as investors would take a 15 per cent stake each in the entity.

Chinese regulators have, however, not confirmed they will sign off on the deals, added Bloomberg.