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ByteDance Said to Offer to Sell TikTok’s U.S. Operations | ByteDance Said to Offer to Sell TikTok’s U.S. Operations |
(32 minutes later) | |
ByteDance, the Chinese internet giant that owns TikTok, has offered to sell the American operations of the popular video app as a way to save its business from being banned by the Trump administration, a person with knowledge of the matter said on Saturday. | |
President Trump had told reporters on Friday that he was considering various options for TikTok, including banning it. White House officials have said the app may pose a national security threat because of its Chinese ownership. | President Trump had told reporters on Friday that he was considering various options for TikTok, including banning it. White House officials have said the app may pose a national security threat because of its Chinese ownership. |
ByteDance’s offer to divest TikTok’s American operations was reported earlier by Reuters. | ByteDance’s offer to divest TikTok’s American operations was reported earlier by Reuters. |
It was not clear whether the Trump administration would accept the divestment as a sufficient response to its concerns. Microsoft and other companies have been in talks to buy TikTok, but a deal has not yet been reached, according to the person with knowledge of the matter, who spoke on the condition of anonymity because the discussions are confidential. | It was not clear whether the Trump administration would accept the divestment as a sufficient response to its concerns. Microsoft and other companies have been in talks to buy TikTok, but a deal has not yet been reached, according to the person with knowledge of the matter, who spoke on the condition of anonymity because the discussions are confidential. |
TikTok has offices and users around the globe. The proposed divestment would not necessarily affect the company’s operations outside the United States, the person added. | TikTok has offices and users around the globe. The proposed divestment would not necessarily affect the company’s operations outside the United States, the person added. |
This is a developing news story. Check back for updates. | This is a developing news story. Check back for updates. |