TikTok: Chinese parent firm ByteDance says no plans to sell app

BBC News— The comments from ByteDance come after reports it was exploring the potential sale of the platform.

Hong Kong Free Press HKFP—ByteDance says ‘no plans’ to sell TikTok after new US law threatens ban. Chinese tech giant ByteDance has said it has no plans to sell TikTok after a new US law put it on a deadline to divest from the hugely popular video platform or have it banned in the United States. US lawmakers set the nine-month deadline on national security grounds, alleging that TikTok can be used […]

The Guardian—ByteDance would shut down TikTok in US rather than sell it, sources say. 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...

TechCrunch—Biden signs bill that would ban TikTok if ByteDance fails to sell the app. President Biden has signed a bill that would ban TikTok if its Chinese parent company, ByteDance, fails to sell it within a year. The bill, which includes aid for Ukraine and Israel, was passed by the U.S. Senate in a 79-18 vote late Tuesday after the House passed it with overwhelming majority over the weekend. […] © 2024 TechCrunch. All rights reserved. For personal use only.