What you need to know
- TikTok's talks with the United States government have increased recently.
- The Chinese government's actions to prevent the sale to a U.S. company served as a catalyst.
- ByteDance is looking for a way to avoid having to sell all of its U.S. operations.
Reported by The Wall Street Journal, ByteDance, the company that owns TikTok, is in talks with the United States to potentially avoid having to sell its operations in the country.
TikTok's Chinese parent, ByteDance Ltd., is discussing with the U.S. government possible arrangements that would allow the popular video-sharing app to avoid a full sale of its U.S. operations, according to people familiar with the matter.
According to the report, talks with the United States accelerated after the Chinese government made a sale to a United States company more difficult.
Discussions around such an option have risen in prominence since the Chinese government took steps that make a sale to a U.S. technology giant like Microsoft Corp. more difficult, the people said. They take place against a fast-approaching deadline that President Trump imposed for TikTok...
As noted by 9to5Mac, CNBC has also posted a short video with more details about the update on the potential sale.
BREAKING: ByteDance & the U.S. government are discussing options that could allow it to avoid a sale of TikTok - Dow Jones pic.twitter.com/cWy78vjluQBREAKING: ByteDance & the U.S. government are discussing options that could allow it to avoid a sale of TikTok - Dow Jones pic.twitter.com/cWy78vjluQ— CNBC Now (@CNBCnow) September 9, 2020September 9, 2020
All of these talks are overshadowed by the upcoming ban of the app. Back in August, the ban got extended to 90 days with a new executive order, but time continues to pass by without a solid foothold in the United States for the app.
