"For three years in high school, I watched Chinese movies and had this incredibly eye-opening experience,” Presser said in a 2023 interview.

The deal for a consortium of U.S. investors to acquire control of the American assets of the video platform closed Thursday.

TikTok said Thursday that it officially formed a joint venture that will keep the video-sharing app operating in the United States.

TikTok's parent company ByteDance approved a deal for a new American version of the app with a group of non-Chinese investors, including Oracle, MGX and Silver Lake, after a six-year legal battle. The new venture,

TikTok has announced a US-based joint venture to keep the app running in America, with Adam Presser appointed as CEO

After more than a year of delays, a joint venture has officially been formed that will allow TikTok to continue to operate in the U.S.

TikTok has finalized a deal to sell parts of its US business. Oracle, Silver Lake, MGX, and Michael Dell are part of the consortium of new investors.

TikTok picked an insider to lead its newly created US business, choosing an executive with deep ties to the entertainment world and history reporting up to ByteDance Ltd.’s leadership.