After four deadline extensions to force a sale of TikTok, the U.S. is finally close to a sale agreement for the massively popular video platform, a White House official said Monday.

The deal will move TikTok’s ownership to a U.S. joint venture compliant with a 2024 law forcing ByteDance, Tiktok’s corporate owner, to sell the app or else face a ban in the U.S., a senior White House official said on a call with reporters, speaking on the condition of anonymity.

The official said the divestiture deal is on its way to be finalized and has been approved by the Chinese government. The deal will reduce ByteDance’s ownership to less than 20% as required by law. The official said they expect ByteDance to sign a “framework agreement” at some point this year.

So far, the only confirmed member of t

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