News

36583 readers

2062 users here now

Welcome to the News community!

Rules:

1. Be civil

Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.

2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.

Obvious biased sources will be removed at the mods’ discretion. Supporting links can be added in comments or posted separately but not to the post body. Sources may be checked for reliability using Wikipedia, MBFC, AdFontes, GroundNews, etc.

3. No bots, spam or self-promotion.

Only approved bots, which follow the guidelines for bots set by the instance, are allowed.

4. Post titles should be the same as the article used as source. Clickbait titles may be removed.

Posts which titles don’t match the source may be removed. If the site changed their headline, we may ask you to update the post title. Clickbait titles use hyperbolic language and do not accurately describe the article content. When necessary, post titles may be edited, clearly marked with [brackets], but may never be used to editorialize or comment on the content.

5. Only recent news is allowed.

Posts must be news from the most recent 30 days.

6. All posts must be news articles.

No opinion pieces, Listicles, editorials, videos, blogs, press releases, or celebrity gossip will be allowed. All posts will be judged on a case-by-case basis. Mods may use discretion to pre-approve videos or press releases from highly credible sources that provide unique, newsworthy content not available or possible in another format.

7. No duplicate posts.

If an article has already been posted, it will be removed. Different articles reporting on the same subject are permitted. If the post that matches your post is very old, we refer you to rule 5.

8. Misinformation is prohibited.

Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.

9. No link shorteners or news aggregators.

All posts must link to original article sources. You may include archival links in the post description. News aggregators such as Yahoo, Google, Hacker News, etc. should be avoided in favor of the original source link. Newswire services such as AP, Reuters, or AFP, are frequently republished and may be shared from other credible sources.

10. Don't copy entire article in your post body

For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 2 years ago

MODERATORS

JonsJava@lemmy.world

gedaliyah@lemmy.world

little_cow@lemmy.world

109

Trump administration to be paid $10bn for brokering TikTok deal (www.theguardian.com)

submitted 1 day ago by Hatshepsut@lemmy.world to c/news@lemmy.world

5 comments fedilink hide all child comments

Donald Trump’s administration is reportedly poised to be paid $10bn by investors as part of a deal to create a US-controlled version of TikTok.

The $10bn, considered by the US government as a sort of transaction fee, will be paid by the administration-friendly investors who took control of TikTok’s US operations from its Chinese parent company, ByteDance, according to reporting that first appeared in the Wall Street Journal.

The investors in the popular social media app include software company Oracle; MGX, an investment firm based in the United Arab Emirates; and private equity business Silver Lake. These entities, along with other backers, paid $2.5bn to the US treasury when the deal closed in January and are set to make further payments in the unusual arrangement until the total hits $10bn.

Trump has previously said that the US will get a “tremendous fee-plus – I call it a fee-plus – just for making the deal and I don’t want to throw that out the window”. The president signed an executive order in September approving the deal, amid bipartisan concerns that TikTok’s Chinese ownership posed a national security threat given the platform’s popularity among Americans.

“It’s owned by Americans, and very sophisticated Americans,” Trump said at the signing of the order. “This is going to be American operated all the way.”

A government taking a transactional fee for a deal between private businesses is exceptionally rare and the $10bn amount appears much larger than the roughly 1% slice that investment bankers take in such circumstances. JD Vance has said the US version of TikTok is valued at about $14bn, meaning the fee taken by the government is closer to 70% of the deal.

you are viewing a single comment's thread
view the rest of the comments

[–] Thedogdrinkscoffee@lemmy.ca 9 points 1 day ago* (last edited 1 day ago)

America has long been a lawless mafia state. This isn't new, just more brazen with shittier PR.