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ByteDance Sells Moonton to Saudi PIF Gaming Firm

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ByteDance has agreed to sell its gaming unit Moonton to Savvy Games Group, a Riyadh-based company owned by Saudi Arabia’s Public Investment Fund, as part of a broader shift in strategy.

The deal, reportedly valued at more than $6 billion, transfers ownership of the studio behind the popular mobile title Mobile Legends: Bang Bang. Moonton was acquired by ByteDance in 2021 and has since become a key player in the global mobile gaming market.

The transaction reflects ongoing consolidation in the gaming industry, where companies are seeking scale, intellectual property and global reach. For Savvy Games Group, the acquisition strengthens its position in mobile gaming and esports as it continues expanding through strategic investments.

For ByteDance, the move aligns with its increasing focus on artificial intelligence and core technology initiatives, as competition intensifies in China’s AI sector.

Moonton’s leadership is expected to remain unchanged, ensuring continuity in operations following the transition.

US Lawmakers Seek Congressional Scrutiny of TikTok Joint Venture Deal

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U.S. lawmakers said a proposed joint venture by TikTok and its Chinese parent ByteDance to avoid a nationwide ban requires close congressional scrutiny, citing unresolved national security concerns. The deal would create a majority American-owned entity to operate TikTok in the United States, with U.S. and global investors holding 80.1% and ByteDance retaining 19.9%.

Republican Representative Jack Moolenaar, chair of the House select committee on China, said lawmakers must examine whether China could still influence TikTok’s algorithm or access U.S. user data. Democratic Senator Ed Markey also criticised the lack of transparency, saying Congress has a duty to investigate whether the arrangement truly protects national security while keeping the app online.

TikTok said the new entity would safeguard U.S. data, apps and algorithms through enhanced cybersecurity and privacy measures, but disclosed few details. The White House and TikTok declined immediate comment. The agreement marks a key moment after years of political and legal battles over TikTok’s operations in the United States.

U.S. lawmaker warns TikTok algorithm licensing deal poses national security risks

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A senior U.S. lawmaker raised fresh concerns Thursday over a proposed licensing deal for TikTok’s algorithm as part of the planned sale of the app’s U.S. operations by its Chinese parent company ByteDance, warning that any continued Chinese influence over the technology could threaten national security.

Representative John Moolenaar, chair of the House Select Committee on China, said he is awaiting a formal briefing on the deal, which would reportedly allow the new U.S. owners of TikTok to license the platform’s algorithm from ByteDance.

“I think anytime you have China with leverage over the algorithm, that’s a problem,” Moolenaar said during remarks at the Hudson Institute, adding that the arrangement could leave room for undue influence.

The White House previously said the agreement meets the national security requirements set out in a 2024 law mandating ByteDance to divest TikTok’s U.S. assets or face a ban. President Donald Trump signed an executive order on September 25 approving the sale and granting 120 days to complete the transaction.

Under the proposal, ByteDance would retain less than 20% ownership in the new U.S. entity, with Americans holding the remaining board seats. The algorithm, which drives TikTok’s recommendation system, would be retrained and monitored by U.S. security partners.

Moolenaar, however, expressed skepticism that the algorithm could be fully reprogrammed or separated from its Chinese origins, noting, “It’s still very much a work in progress.”

TikTok did not immediately respond to requests for comment.