‘TikTok America’ is Trump’s new proposal for saving TikTok, per report

TikTok was temporarily saved from a US ban earlier this year, but a key deadline is coming up that could see the ban reinstated. According to a new report, President Trump’s plan to stop that from happening is a new company called “TikTok America.” New TikTok America company would have split ownership, but likely wouldn’t impact user experience Kaya Yurieff writes at The Information: President Donald Trump plans to announce later on Wednesday his plan for a new company called TikTok America, part of his efforts to broker a deal to keep TikTok alive in the U.S., according to a person close to the discussions. It’s unclear whether the Trump administration has approval for the proposed structure from the Chinese government. Under Trump’s proposal, TikTok America would be roughly 50% owned by new U.S. investors and license TikTok’s algorithm from ByteDance, the person said. Existing investors in ByteDance would have a roughly one-third stake in the new company, while ByteDance would reta ... Read full article.