ByteDance would rather shut TikTok in the US than sell if legal challenge against ban law fails (report)
by Music Business Worldwide
Music Business Worldwide— Citing sources, Reuters reports that TikTok's parent 'would prefer' to shut the app down in the US if court challenge is unsuccessful Source
New York Post—TikTok owner ByteDance reportedly would rather shut down app than sell it as it faces US ban. TikTok owner ByteDance reportedly would rather shut down the popular video-sharing app than sell it if the Chinese-based company exhausts all legal options to fight a US ban – despite growing interest from American buyers for the platform. The algorithms TikTok relies on for its operations are deemed core to ByteDance’s overall operations, which would
AppleInsider—ByteDance would rather shut down US TikTok than sell it. TikTok owner ByteDance reportedly will not sell to a US firm if it is unable to convince a court to overturn President Biden's day-old law forcing a sale or ban. TikTok may be cease to be available in the US According to the bill signed into law by President Biden on April 24, 2024, TikTok owner ByteDance must either sell the platform to a US firm, or face a ban. The company has nine months to comply, with a possible three-month extension if a deal is in progress. According to...
PYMNTS.com—Report: ByteDance to Shut Down TikTok If Legal Efforts Fail. TikTok owner ByteDance would reportedly rather shut down the social media platform than sell it. That’s what the firm plans to do if it is unsuccessful in its legal efforts to fight legislation that would ban TikTok from app stores in the United States if it is not sold, Reuters reported Thursday (April 25), citing unnamed sources. ByteDance considers TikTok’s […]