(Reuters) -Parties interested in buying the popular short-video app TikTok are talking directly with the White House, and not with its Chinese owner ByteDance, Axios reported on Friday. TikTok’s fate has been up in the air since a law requiring ByteDance to either sell it on national security grounds or face a ban took effect […]
Business
TikTok bidders talk directly with White House, not ByteDance, Axios reports
Audio By Carbonatix
(Reuters) -Parties interested in buying the popular short-video app TikTok are talking directly with the White House, and not with its Chinese owner ByteDance, Axios reported on Friday.
TikTok’s fate has been up in the air since a law requiring ByteDance to either sell it on national security grounds or face a ban took effect on January 19. President Donald Trump, after taking office on January 20, signed an executive order seeking to delay by 75 days enforcement of the law.
The White House, TikTok, and ByteDance did not immediately respond to requests for comment.
Trump has expressed interest in the U.S. government owning a stake in the app that is used by nearly half of all Americans.
The turmoil at TikTok has attracted several potential buyers, including former Los Angeles Dodgers owner Frank McCourt, who have expressed interest in the fast-growing business that analysts estimate could be worth as much as $50 billion.
Trump has said that he was in talks with multiple people over TikTok’s purchase and would likely have a decision on the app’s future in February. He said on Thursday that the 75-day deadline on TikTok could be extended.
(Reporting by Ismail Shakil in Ottawa; editing by Costas Pitas)