Trump Extends TikTok Deadline Amid Bidding War for Ownership
Former President Donald Trump grants TikTok another 75 days to seek a buyer, avoiding an imminent ban in the United States.
Donald Trump has announced that TikTok will receive an additional 75 days to secure a new owner, thus averting a potential ban in the United States.
The social media platform, currently owned by the Chinese company ByteDance, was facing a deadline for divestment following a Supreme Court order mandating its sale to a non-Chinese entity due to national security concerns.
In a post on TruthSocial, Trump stated, "My Administration has been working very hard on a Deal to SAVE TIKTOK, and we have made tremendous progress.
The Deal requires more work to ensure all necessary approvals are signed, which is why I am signing an Executive Order to keep TikTok up and running for an additional 75 days."
This extension aligns with a bipartisan legislation enacted last year under President Joe Biden, which stipulates that ByteDance must divest TikTok within a specified timeframe or face removal from the Apple and Google app stores.
Recent reports indicate that Amazon has made a last-minute bid for TikTok, although the company has refrained from commenting on the matter.
ByteDance has not publicly responded to the claims regarding the bid.
The interest from Amazon is the latest in a series of attempts by various entities to acquire TikTok.
Trump noted previously that at least four different groups were pursuing ownership, though they were not named at that time.
Among the interested parties is the US venture capital firm Andreessen Horowitz, which is reportedly discussing a buyout of TikTok's Chinese stakeholders.
In a more unconventional approach, popular YouTube influencer MrBeast has also expressed a willingness to purchase TikTok to avoid its ban.
Amazon's recent outreach involved a letter directed to Vice President JD Vance and Commerce Secretary Howard Lutnick, signaling its intent to explore the acquisition.
However, insiders have suggested that the White House does not regard Amazon’s bid as a serious pursuit, with skepticism about the likelihood of the tech giant acquiring TikTok.
The social media platform, currently owned by the Chinese company ByteDance, was facing a deadline for divestment following a Supreme Court order mandating its sale to a non-Chinese entity due to national security concerns.
In a post on TruthSocial, Trump stated, "My Administration has been working very hard on a Deal to SAVE TIKTOK, and we have made tremendous progress.
The Deal requires more work to ensure all necessary approvals are signed, which is why I am signing an Executive Order to keep TikTok up and running for an additional 75 days."
This extension aligns with a bipartisan legislation enacted last year under President Joe Biden, which stipulates that ByteDance must divest TikTok within a specified timeframe or face removal from the Apple and Google app stores.
Recent reports indicate that Amazon has made a last-minute bid for TikTok, although the company has refrained from commenting on the matter.
ByteDance has not publicly responded to the claims regarding the bid.
The interest from Amazon is the latest in a series of attempts by various entities to acquire TikTok.
Trump noted previously that at least four different groups were pursuing ownership, though they were not named at that time.
Among the interested parties is the US venture capital firm Andreessen Horowitz, which is reportedly discussing a buyout of TikTok's Chinese stakeholders.
In a more unconventional approach, popular YouTube influencer MrBeast has also expressed a willingness to purchase TikTok to avoid its ban.
Amazon's recent outreach involved a letter directed to Vice President JD Vance and Commerce Secretary Howard Lutnick, signaling its intent to explore the acquisition.
However, insiders have suggested that the White House does not regard Amazon’s bid as a serious pursuit, with skepticism about the likelihood of the tech giant acquiring TikTok.
