It appears the fight to keep TikTok active in the United States has finally reached it’s conclusion, as the joint venture set to acquire the app’s assets and handle its ownership in the United States has formally been established today. As CNN reports, this comes just a day before the deadline set by President Trump for the assets to be sold. This comes as an end to the years of controversial history behind the app that began towards the tail end of the first Trump administration.

The venture will be lead by CEO Adam Presser and Chief Security Officer Will Farrell, both of whom led efforts by the app to secure American users’ data. It will also be overseen by a board including TikTok’s US CEO Shou Chew and representatives from investment firm Susquehanna International Group and private equity firm Silver Lake, among others. Another notable board member is Kenenth Glueck, Executive Vice President in the Office of the Chief Executive Officer at Oracle. Oracle, a technological giant, will be taking a 15% stake in the US join venture; the group was already working closely with TikTok in the past and storing US users’ data for years.

Oracle Chairman and Cofounder Larry Ellison, who has been a longtime ally to Trump, has also been a participant in the bidding for the sale of Warner Bros. Discovery. These bidding wars have arouse controversy akin to the Tiktok sale, especially after Trump made recent investments in both Warner and Netflix which raised concerns about conflicts of interest arising from involvement of the president as well as allies such as Ellison in the affair. Paramount, one of the main bidders for Warner Bros., had found itself facing the ire of the President after a lawsuit over the program 60 Minutes, particularly it’s splicing of an interview with the presidential candidate Kamala Harris, claiming the clip was edited in a way to favor her and not Trump. While the lawsuit was generally seen as baseless and frivolous by many legal experts, Paramount eventually reached a $16 million settlement with the President over the matter. The move was seen as a way to ensure that the FCC would not block the ongoing merger of Paramount with Skydance Media; with Ellison and Paramount making further efforts to appease the conservative politics of the current administration.

As for TikTok, Oracle is set to remain as the overseer for the storage and security of American users’ data, as well as making up part of the 50% stake held by itself and other investors such as Silver Lake and MGX. 30% of the venture will be held by “affiliates of certain existing investors in ByteDance,” with a remaining 19.9% to be retained by parent company ByteDance. While it is unlikely there will be apparent changes in the app itself, many anticipate shifts in the app’s algorithm especially as the new group takes control. Despite statements by the group, concerns have been raised over the transparency of the deal particularly on if the deal will properly keep the app independent of influence from the Chinese government, as was the initial core of controversy around the app. With ByteDance retaining a level of ownership, little change to the security of the app itself, and heavy ownership by those close with the president, many fear the deal will not see the app properly secure users’ data, or that it even may begin to take a heavier conservative lean similarly to Paramount after Ellison’s takeover, or the shift of Twitter into X after the being purchased by Elon Musk. While the deal itself may finally come to a close, there remains much to be seen for the future of the app itself.