TikTok creators welcome deal to keep app in the U.S.

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Only a few years ago, Keith Lee was a professional MMA fighter, doing food delivery and making social media videos to ease his social anxiety.On Thursday night, however, Lee found himself under the glare of bright lights and walking the red carpet outside the historic Hollywood Palladium on Sunset Boulevard about to be recognized as TikTok’s “Creator of the Year.” He and hundreds of other creators had gathered for TikTok’s first American awards show.And they had good reason to celebrate.Only a few minutes before the start of the inaugural show, they got word about a deal that would allow TikTok to keep operating in the U.S.

through a joint venture controlled by a group of U.S.investors that includes tech giant Oracle Corp.

TikTok confirmed the deal in an email to employees and said it is expected to close next month.Business TikTok said Thursday that it signed an agreement to form a U.S.

joint venture that is majority-owned by U.S.investors and would oversee its U.S.

operations.“[TikTok] is the best way to reach people and I know so many people who rely on it to support their families,” said Lee, who has 17.3 million followers of his casual restaurant reviews.“For me, it’s my career now so I can’t imagine it not being around.”Creators — many of whom are based in Southern California — rely on the app as a key source of income, while businesses and brands turn to the platform and its influencers to promote their products.Many had worried that the app might disappear after the Supreme Court upheld a ban on the platform because of national security concerns raised by President Trump in 2020.Trump subsequently allowed TikTok, which has offices in Culver City, to keep operating in the U.S.

and in September signed an executive order outlining the new joint venture.Comedy creator Adam W., who attended the awards show, called the news “game changing.”With 2...