TikTok’s deal to sell its US business is entering its final stages, and could wrap up by Jan. 22. TikTok CEO Shou Chew sent an internal memo on December 18 to employees outlining the company's next steps. The note explains how a joint venture between three companies will help TikTok avoid a long-delayed ban in the US. The memo confirms that a new consortium of investors plans to take a 50% stake in the US business under the name TikTok USDS Joint Venture LLC. Oracle, Silver Lake, and Abu Dhabi’s state-owned investment firm MGX each plan to take 15%, with the remaining 5% taken by other unnamed investors. Chew confirms that the new joint venture will assume control of the algorithm used to recommend TikTok videos to US users. It's unclear if that will have an immediate impact on your TikTok experience. #TikTokDeal #TechNews #TikTokBan #ByteDance #Oracle 📸: TikTok, Silverlake, MGX Like what you're reading? Don't miss out on our latest stories. Add PCMag as a preferred source on G...