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TikTok and its Chinese parent ByteDance Ltd. have closed a long-awaited deal to transfer parts of their US operations to American investors, securing the popular video app’s future in the US and avoiding a nationwide ban. The social media company has officially established a US entity with three managing investors: Oracle, private equity firm Silver Lake Management LLC and Abu Dhabi-based investment company MGX. TikTok Chief Executive Officer Shou Chew — who will continue running ByteDance’s most valuable asset globally — gets a seat on the board. Adam Presser, who was TikTok’s head of operations, trust and safety, will now helm the American venture as CEO. Bloomberg News Technology Reporter Alexandra Levine joins Bloomberg Businessweek Daily to discuss. She speaks with Carol Massar and Tim Stenovec. -------- Watch Bloomberg Radio LIVE on YouTube Weekdays 7am-6pm ET WATCH HERE: http://bit.ly/3vTiACF Follow us on X: / bloombergradio Subscribe to our Podcasts: Bloomberg Daybreak: http://bit.ly/3DWYoAN Bloomberg Surveillance: http://bit.ly/3OPtReI Bloomberg Intelligence: http://bit.ly/3YrBfOi Balance of Power: http://bit.ly/3OO8eLC Bloomberg Businessweek: http://bit.ly/3IPl60i Listen on Apple CarPlay and Android Auto with the Bloomberg Business app: Apple CarPlay: https://apple.co/486mghI Android Auto: https://bit.ly/49benZy Visit our YouTube channels: Bloomberg Podcasts: / bloombergpodcasts Bloomberg Television: / @markets Bloomberg Originals: / bloomberg Quicktake: / @bloombergquicktake