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TikTok signs Trump-backed deal to sell US entity to American investors

about 5 hours ago
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TikTok has signed a deal to sell its US business to three American investors – Oracle, Silver Lake and MGX – ensuring the popular social video platform can continue operating in the United States.The deal is expected to close on 22 January, according to an internal memo seen by he Associated Press and Reuters.The TikTok chief executive officer, Shou Zi Chew, said in the memo that ByteDance and TikTok have signed binding agreements with the three investors.The new TikTok US joint venture will be 50% held by a consortium of new investors, including Oracle, Silver Lake and Abu Dhabi-based MGX with 15% each.Another 30.

1% will be held by affiliates of existing ByteDance investors and 19,9% will be retained by ByteDance, according to the memo,White House officials have said Oracle, which was co-founded by Donald Trump’s supporter Larry Ellison, will license a copy of TikTok’s recommendation algorithm as part of the deal, in a partnership that will expand on Oracle’s existing management of TikTok’s trove of data collected about its US users,Ellison’s role in the new ownership of the most popular social media platform in the US has raised concerns about the decreasing share of media firms not under the control of pro-Trump billionaires, with Ellison’s son David now driving wholesale changes at CBS, Elon Musk in control of X, formerly known as Twitter, Mark Zuckerberg overseeing both Instagram and Facebook, and Jeff Bezos owning the Washington Post,“First Paramount/CBS and now TikTok,” Elizabeth Warren, a Democratic senator from Massachusetts, wrote on Bluesky in response to the news.

“Trump wants to hand over even more control of what you watch to his billionaire buddies.Americans deserve to know if the president struck another backdoor deal for this billionaire takeover of TikTok.”Rush Doshi, who coordinated US government policy on China and Taiwan as a Biden National Security Council official, noted that there were “still some questions about who controls the algorithm.They say it will be trained on US data.Great, but has the algorithm been transferred, licensed, or is it still owned and controlled by Beijing – with Oracle merely providing ‘monitoring?’”The agreement comes after a long delay.

Trump said in September that he had spoken with China’s president over the phone about the deal and he had “a very good talk with president Xi” and “he gave us the go ahead”.In October, the US treasury secretary, Scott Bessent, announced that the US and China had “reached a final deal on TikTok”.In 2020, during his first presidency, Trump had threatened to ban TikTok in retaliation for China’s handling of Covid.Congress later passed a ban of the app over security concerns that was signed into law in April 2024 by Joe Biden.The ban was set to go into effect on 20 January 2025 but implementation was pushed back multiple times by Trump while his administration worked to develop a deal to transfer ownership.

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The Hodge report into Arts Council England: ‘Not exactly a ringing endorsement’

The arts in England are underfunded, and were dealt a blow by Covid from which many organisations have not yet recovered. But that has been only part of the story. The sheer weight of required form-filling, the endless bureaucracy, the impracticable length of time it takes to simply be funded by Arts Council England (ACE) have caused universal frustration among those working in the arts. There is much talk of exhaustion and burnout.Many organisations have felt frustrated, too, by the strictures of ACE’s flagship strategy, Let’s Create, which, though admirable in principle, with its focus on participation in the arts, is perhaps tilted too far from recognising the expertise and individuality of artists and arts institutions

3 days ago
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The Vietnam War ended 50 years ago. But its lessons live on in The Quiet American

Alden Pyle (Brendan Fraser) was a “quiet American”, says Thomas Fowler (Michael Caine) to a French policeman. “A friend,” he adds, as the lifeless corpse of Pyle stares back at him with a wretched expression.This is the scene that opens Phillip Noyce’s Vietnam-set political drama before the film flashes back a few months earlier to 1952 Saigon, where Fowler, an ageing Englishman, lives leisurely as a journalist reporting on the first Indochina war. When Pyle, a young American aid worker advocating for US intervention, falls for Fowler’s 20-year-old Vietnamese lover, Phượng (Đỗ Thị Hải Yến), the jaded reporter’s tranquil existence begins to unravel.At Pyle and Fowler’s first meeting at the Continental hotel, it is clear that Pyle is anything but “quiet”: handsomely bespectacled, the American idealist is attentively reading Dangers to Democracy, a book on foreign policy

3 days ago
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‘Fans stole my underwear – and even my car aerial’: how Roxette made It Must Have Been Love

‘We had 2,000 people outside our hotel room in Buenos Aires singing our songs all night. David Coulthard later told me that all the Formula One drivers were staying there and were annoyed because they couldn’t sleep’In my early 20s, I was in the biggest band in Sweden. But after Gyllene Tider [Golden Times] collapsed, I was depressed for two years. At first, Roxette only got together when Marie Fredriksson, our singer, wasn’t busy with solo stuff. To keep her in the band, I needed to make it successful, so I was very motivated

4 days ago
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The Guide #221: Endless ticket queues, AI slop and ALL CAPS agony

It’s time for a big old moan. Next week’s newsletter will be a roundup of our favourite culture of the year, a bit of an annual Guide tradition by now, and something that’s great fun to put together.But do you know what’s even more fun? Complaining about things. So, this week’s Guide is devoted to cultural gripes, big and small, of 2025. Here’s what had us seething this year

6 days ago
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From Eleanor the Great to Emily in Paris: your complete entertainment guide to the week ahead

Eleanor the GreatOut nowJune Squibb stars in Scarlett Johansson’s directorial debut, which premiered at Cannes and tells the tale of the eponymous Eleanor, a senior citizen recently relocated to New York, who strikes up a friendship with a 19-year old – and then stumbles her way into pretending to be a Holocaust survivor.LurkerOut nowA hit at Sundance, this is the story of a lowly retail employee who happens to strike up a friendship with a rising pop star, becoming the Boswell to his Johnson, if Boswell was part of a pop star’s entourage. But the path of friendship with a famous person never did run smooth, and the uneven power dynamic soon prompts some desperate manoeuvring in this psychological thriller.Ella McCayOut nowEmma Mackey stars in the latest from James L Brooks (his first since 2010), a political comedy about an idealistic thirtysomething working in government and preparing to step into the shoes of her mentor, Governor Bill (Albert Brooks). Jamie Lee Curtis co-stars as Ella’s aunt

6 days ago
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Stephen Colbert on Trump’s ‘gold card’: ‘Pay-to-play program for rich foreigners’

Late-night hosts tore into Donald Trump’s new “gold card” immigration program and his many weird tangents about grocery prices.Stephen Colbert opened Thursday’s Late Show with a new Christmas jingle about the president: “He’s making a list, checking it twice, then handing that list to the people at ICE. Donald Trump … ruins everything he touches,” he sang. “And lately he’s been pretty handsy, slapping his face on anything in sight.”On Wednesday, Trump put his face on what Colbert called “his long-promised pay-to-play program for rich foreigners”

7 days ago
technologySee all
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From Nvidia to OpenAI, Silicon Valley woos Westminster as ex-politicians take tech firm roles

1 day ago
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Hackers access Pornhub’s premium users’ viewing habits and search history

1 day ago
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Amazon in talks to invest $10bn in developer of ChatGPT

1 day ago
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UK insists US tech deal not dead as Trump threatens penalties against European firms

2 days ago
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US date rape survivors file lawsuit accusing Hinge and Tinder of ‘accommodating rapists’

3 days ago
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Water levels across the Great Lakes are falling – just as US data centers move in

3 days ago