6 days ago
4
ARTICLE AD BOX
(NewsNation) — The Trump medication is assured that TikTok won't beryllium taken offline Saturday, adjacent arsenic the United States' deadline to prohibition the app looms.
NewsNation has learned that astir 50 companies are bidding to get the platform, which has astir 136 cardinal U.S. users.
President Trump remains optimistic, suggesting that a woody is imminent and China's authorities whitethorn yet springiness in.
"I deliberation that China, maybe, volition telephone and accidental we're upset with the tariffs and possibly they privation to get thing a small spot and get TikTok approved, who knows?" helium said.
However, important obstacles remain. ByteDance, TikTok's genitor company, indispensable unafraid a non-Chinese purchaser oregon look a prohibition successful the U.S., and China indispensable hold to the sale.
ByteDance maintains that TikTok is not for merchantability and that the Chinese authorities would apt artifact immoderate deal.
US unfastened to China owning algorithm, study says
The Trump medication is reportedly moving to operation the woody truthful that China maintains power implicit TikTok's algorithm, leasing it to a U.S. company, portion inactive holding a number ownership stake.
This could rise ineligible issues, arsenic existent laws bans "the constitution oregon attraction of immoderate operational relationship" betwixt a U.S. app and immoderate entities controlled by a overseas adversary, including cooperating connected the cognition of an algorithm.
Even if a woody is reached, imaginable buyers are demanding liability protection, disquieted that they could put billions successful the app lone to look lawsuits from a caller medication successful 4 years.
Companies look arsenic imaginable buyers
There are astir 5 oregon six companies with stronger chances, if ByteDance decides to sell.
Financial writer Cory Johnson told NewsNation's Connell McShane that Amazon, Oracle and Blackstone are starring contenders.
However, Oracle is seen arsenic the astir apt purchaser owed to its years-long narration with TikTok, hosting U.S. idiosyncratic information connected American servers.
If an statement isn't reached by Saturday, TikTok could beryllium banned, oregon Trump whitethorn determine to widen the hold of the prohibition a 2nd time. The instrumentality does not technically let for him to postpone it astatine all, but truthful acold Congress has not pressed the issue.
U.S. officials are peculiarly acrophobic astir the information of Americans utilizing TikTok, fixed ByteDance’s ownership of the app.
