ByteDance would shut down TikTok in US rather than sell it, sources say
by The Guardian
The Guardian— App’s ‘secret source’ algorithm reportedly core to operations of parent company, which sources say make a sale highly unlikelyByteDance would prefer to shut down TikTok rather than sell it if the Chinese company exhausts all legal options to fight legislation to ban the platform from app stores in the US, four sources said.The algorithms TikTok relies on for its operations are deemed core to ByteDance’s overall operations, which would make a sale of the app with algorithms highly unlikely, said...
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...
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
Music Business Worldwide—ByteDance would rather shut TikTok in the US than sell if legal challenge against ban law fails (report). Citing sources, Reuters reports that TikTok's parent 'would prefer' to shut the app down in the US if court challenge is unsuccessful Source