TikTok has reached a deal to cede a substantial portion of its U.S. operation to a group of American investors, thus ending a years-long tussle in which the federal government has sought to force the platform to do just that.

An internal memo says its algorithm will be retrained on US user data after the deal closes in January.

Must-know stories (and glorious gossip) from the D.C. mire.

ByteDance and TikTok have signed "binding agreements" with three managing investors: Oracle Corporation, Silver Lake and Abu Dhabi-based MGX, to form a new TikTok U.S. joint venture named TikTok USDS Joint Venture LLC,

Ciara is performing, and presenters at the award show include Paris Hilton, Bethenny Frankel, Tan France, REI AMI and more.