A TikTok deal has finally been reached. Almost. Pending agreement from Beijing, the app’s owner, ByteDance Ltd., has agreed to a joint venture that will produce an American version of TikTok that is majority owned by US investors.

Social media giant TikTok struck an agreement to put its U.S. operations under the majority control of U.S. investors, according to an internal memo sent by TikTok CEO Shou Chew and obtained by ABC News. The move paves the way for the China-based platform to escape legal peril months after a ban was set to rid it from app stores.

Creators take center stage as TikTok turns its For You Page into a live awards show — follow along for real-time updates all night.

La La Anthony hosted the 2025 TikTok Awards from the Hollywood Palladium, celebrating the best content creators in the digital space.

TikTok has signed a deal to spin off its US business. Investors include Oracle, Silver Lake and MGX, with around 15 percent ownership each.

The inaugural TikTok Awards became a reality on Thursday, Dec. 18 — passing out hardware to the most important folks on the incredibly popular platform.

See the complete list of winners from the TikTok Awards 2025. The inaugural U.S. TikTok awards aired live from the Hollywood Palladium in Los Angeles on Dec. 18.

Several creators were nominated for awards at the first-ever U.S. TikTok Awards, held at the Hollywood Palladium in Los Angeles