Santa Barbara County News and Events

TikTok has signed the deal to sell its US entity to American investor group

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TikTok signed a deal to sell its US assets to a group of American investors

By Clare Duffy, CNN

New York (CNN) — TikTok has signed the deal backed by President Donald Trump to sell its US assets to a group of American investors, CEO Shou Chew told employees in a memo Thursday.

Although the transaction is not yet complete, the move brings TikTok one step closer to securing its long-term future in the United States. It comes after a law passed last year required that the US version of the app be spun off from its parent company, ByteDance, or be banned in the United States. Trump repeatedly delayed enforcement of the law as he pursued a deal to transfer control of the popular app to American ownership.

“We have signed agreements with investors regarding a new TikTok U.S. joint venture, enabling over 170 million Americans to continue discovering a world of endless possibilities as part of a vital global community,” Chew said in his memo, which was obtained by CNN.

Axios first reported the agreement.

The Trump administration said in September that it had reached a deal with China to transfer control of TikTok’s US operations to a group of mostly American investors. The president signed an executive order stating that the deal constitutes a qualified divestiture and delaying enforcement of the ban-or-sale law for 120 days to allow for the transaction’s closure.

Chew said in his memo that there is more work to be done before the deal is finalized, but the parties are moving toward a close by January 22, 2026. ByteDance and TikTok both agreed to the terms of the deal, he said.

The US law, which technically went into effect in January, bans TikTok unless ByteDance divests approximately 80% of its US assets to non-Chinese investors.

Under the agreement, the US TikTok app will be controlled by a new joint venture, 50% of which will be owned by a consortium of investors comprised of tech company Oracle, private equity firm Silver Lake and Emirati-backed investment firm MGX. Just over 30% of the joint venture will be held by “affiliates of certain existing investors in ByteDance” and 19.9% will be retained by ByteDance, according to Chew’s memo.

This is a developing story. It will be updated.

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TikTok firmó acuerdo para vender su entidad en EE.UU. a un grupo de inversionistas estadounidenses

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Por Clare Duffy, CNN

TikTok firmó el acuerdo que respalda el presidente Donald Trump para vender sus activos en EE.UU. a un grupo de inversionistas estadounidenses, informó el CEO Shou Chew a los empleados en un memorando el jueves.

Aunque la transacción aún no está completa, este paso acerca a TikTok a asegurar su futuro a largo plazo en Estados Unidos. Esto ocurre después de que una ley aprobada el año pasado exigiera que la versión estadounidense de la aplicación se separara de su empresa matriz, ByteDance, o fuera prohibida en Estados Unidos.

Noticia en desarrollo…

The-CNN-Wire
™ & © 2025 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.

The post TikTok firmó acuerdo para vender su entidad en EE.UU. a un grupo de inversionistas estadounidenses appeared first on News Channel 3-12.

Federal watchdog investigating energy investments selectively terminated by Trump Administration in October

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WASHINGTON D.C. (KEYT) – On Wednesday, members of the California congressional delegation announced that a federal watchdog has agreed to investigate billions in federal energy investments selectively terminated by the Trump Administration earlier this year.

"[T]he Office of Inspector General recently announced an audit which will review the Department of Energy’s processes when cancelling financial assistance and whether those cancellations were in accordance with established criteria," read a letter from Sarah Nelson with the U.S. Department of Energy. "This work will help ensure that these activities are conducted consistently with applicable laws, regulations, and Departmental policies and procedures."

The $7.6 billion in grants were authorized through the Infrastructure Investment and Jobs Act which was signed into law in 2021.

"Donald Trump and his administration have launched an unlawful campaign of vengeance toward California, and their illegal cancellation of 79 energy grants to California was the latest example," said Senator Adam Schiff, one of 30 members of Congress who requested the restoration of funding in October. "I’m pleased to see that at our request, the Energy Department’s acting Inspector General is opening an investigation into this clear political targeting, which the Trump administration has openly admitted in court was intended to punish blue states."

In May of this year, Secretary Wright issued a Secretarial Memorandum that required all financial awards through the federal agency to be reviewed on a case-by-case basis to, "identify waste, safeguard taxpayer dollars, protect America's national security, and advance President Trump's commitment to deliver affordable, reliable, and secure energy for the American people."

"On day one, the Energy Department began the critical task of reviewing billions of dollars in financial awards, many rushed through in the final months of the Biden administration with inadequate documentation by any reasonable business standard," Secretary of Energy Chris Wright argued regarding the terminated funding. "President Trump promised to protect taxpayer dollars and expand America’s supply of affordable, reliable, and secure energy. Today’s cancellation’s deliver on that commitment."

On Oct. 1, the Trump Administration's Budget Director, Russell Vought announced on X/Twitter that Department of Energy projects in California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maryland, Massachusetts, Minnesota, New Hampshire, New York, Oregon, Vermont, and Washington would be terminated.

Each one of the states slated for feder

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