US to Receive $10 Billion Fee for TikTok Deal, WSJ Reports

The US is slated to receive around $10 billion as a fee from investors as part of the recently completed deal for China’s ByteDance Ltd. to sell the American operations of the social video app TikTok to a consortium of US investors, the Wall Street Journal reported on Friday.

A federal law required TikTok to either be shut down in the US or sold to domestic owners at the beginning of President Donald Trump’s second term. But the president used a series of executive actions to extend that deadline and the White House helped broker the sale to ...