
TikTok’s future is in limbo thanks to a law signed by President Joe Biden in April, which stipulates the video app will be banned over national security concerns if ByteDance doesn’t sell it to an American buyer. — AP
Even as TikTok faces a looming ban in the US, Chinese parent company ByteDance Ltd has made it clear it has no plans to sell the popular video app. Frank McCourt doesn’t seem deterred.
A real estate mogul and former owner of the Los Angeles Dodgers, McCourt has emerged as a loud and unexpected suitor for the video app, which could be shut down as soon as Jan 19. He and his team have already spoken with more than 60 elected officials and policymakers about his bid, and held conversations with members of President-elect Donald Trump’s transition team to make his case for a possible deal, he said this month in an interview with Bloomberg.