US In Talks Over TikTok Sale – Four Groups Express Interest

The United States is currently negotiating with four potential buyers for the acquisition of TikTok, according to former President Donald Trump. The Chinese-owned social media app faces an uncertain future in the U.S. due to legal requirements demanding that its parent company, ByteDance, divest its ownership or risk a nationwide ban.

TikTok’s Future in the United States

A U.S. law mandates that TikTok must sever ties with ByteDance, citing national security concerns. The legislation, which took effect on January 19, raised alarms over potential risks involving the Chinese government’s ability to access user data or influence American public discourse through the platform.

When asked about the status of the deal, Trump responded, “It could be,” while confirming that discussions are ongoing with four different groups. “A lot of people are interested, and it’s up to me,” he added during a conversation aboard Air Force One. However, he refrained from naming the parties involved but assured that “all four are good.”

TikTok’s Temporary Shutdown and Return

As the deadline approached, TikTok temporarily ceased operations in the U.S., disappearing from app stores, much to the disappointment of its millions of users. However, upon assuming office for his second term, Trump suspended the enforcement of the ban for two and a half months in an attempt to reach a diplomatic resolution with Beijing. Consequently, TikTok resumed its services in the U.S. and was reinstated on both Apple and Google Play stores in February.

Potential Buyers Competing for TikTok

Among the notable contenders eyeing TikTok’s acquisition is “The People’s Bid for TikTok,” an initiative spearheaded by real estate mogul and sports investor Frank McCourt under his Project Liberty initiative. Other major competitors include Microsoft, Oracle, and a consortium featuring renowned YouTuber and internet personality Jimmy Donaldson, popularly known as MrBeast.

This is not the first time Trump has attempted to ban TikTok in the United States, as he previously sought to prohibit the app during his first presidency over similar national security concerns.

For further updates on U.S. technology regulations, visit The Verge.