The U.S. and China finalized a deal Thursday that will give a group of Trump-approved investors including Oracle control of TikTok’s U.S. unit, according to multiple outlets, keeping the app in the U....

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. that has been in discussion for years.

The deal is expected to close this week, the report said, and would result in the app's Beijing-based parent, ByteDance ( BDNCE ), having a stake just under 20%.