China’s ByteDance will hold one of seven board seats and less than 20 percent of stock in TikTok US under a new deal, according to a White House official.
The official said on Sept. 21 that Americans with national security and cybersecurity credentials will hold the other six seats. The United States will also control the code and algorithm, the official said.
“TikTok’s content-recommendation algorithm will be retrained from the ground up—reviewed and analyzed under U.S. supervision with U.S. data that will not be shared outside of the United States,” the official said.
A law was enacted last year that required ByteDance to divest itself of TikTok or cease operations in the United States, based on national security concerns. President Donald Trump has extended that deadline several times, including again last week, as he seeks to strike a deal for the app that he says helped him win the votes of millions of young Americans….