TikTok has finalized a deal to create a new American version of the app, avoiding the looming threat of a ban in the U.S.

The deal the White House put forward allows ByteDance to lease a copy of its content algorithm to the forthcoming US TikTok entity, retraining the new algorithm on US user data.

TikTok has finalized a deal to create a new American entity, avoiding the looming threat of a ban in the U.S. that has been in discussion for years.

TikTok announced Thursday it has established a majority American-owned joint venture to operate its US business, allowing the ...

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