ByteDance, the Chinese parent company of TikTok, remains under pressure regarding the platform’s U.S. operations. Recently, the U.S. Congress passed a bill mandating the sale of TikTok’s American business, though ByteDance is still engaged in legal proceedings to overturn the decision.
Meanwhile, American billionaire Frank McCourt has expressed interest in purchasing TikTok, discussing his intentions during a recent podcast. However, ByteDance has reiterated that TikTok is not for sale and is committed to its legal efforts to revoke the mandated sale order.
Due to ongoing government investigations, ByteDance faces increasing pressure to divest TikTok’s U.S. operations. According to the new law, TikTok could face a ban on app stores in the U.S. starting January 19, 2025, unless ByteDance sells its U.S. business. The company has been given a 270-day, or 9-month, deadline to comply.
