TikTok's future in the US has been secured after establishing a joint venture that acquired the video app's US assets. Adam Presser will be the new CEO of the American-owned joint venture, while TikTok CEO Chew Shou Zi will be a director. ByteDance retains 19.9 per cent ownership and control over business lines like e-commerce and ads. Investors like Silver Lake, Oracle, and MGX will own 15 per cent each as managing investors. The deal addresses US national security concerns about potential