TikTok’s U.S. endgame is official - but one big risk remains

TikTok signed a binding deal on December 18 to spin off its U.S. business into an American-led joint venture, formally ending years of political and security brinkmanship.

Oracle and Silver Lake are taking control, cutting ByteDance’s stake to under 20% and valuing the U.S. arm at about $14 billion ahead of a targeted January 22 close.

But before anyone celebrates, the final and most unpredictable hurdle still sits offshore in Beijing.