ByteDance, the China-based parent company of TikTok, will retain ownership of the app’s US operations while handing over control of its data, content, and algorithm to a newly formed joint venture, according to three people familiar with the development.

ByteDance’s bigger-than-expected role in the new TikTok entity lays out the continued and significant involvement of the China-based global tech giant.

Trump’s Executive Orders

On Thursday, US President Donald Trump signed an executive order declaring a plan to sell the China-based company’s TikTok US operations to a consortium of investors that include Oracle, Silver Lake and others to satisfy national security requirements.

The details about the ownership structure under discussion may raise questions in Congress and among critics

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