U.S. President Donald Trump announced on Sunday that his administration is actively engaged in discussions with four distinct groups regarding the sale of TikTok, the popular social media platform owned by China’s ByteDance and that a deal could come “soon”.
This move comes in response to legislative measures requiring the app’s sale due to national security concerns.
“We’re dealing with four different groups, and a lot of people want it. All four are good,” said Trump in an interview with reporters aboard Air Force One on Sunday (via The Information) without disclosing the names of the possible bidders.
For those unaware, TikTok’s future in the U.S. has remained uncertain since the passing of the Protecting Americans from Foreign Adversary Controlled Applications Act (PAFACA) in April 2024 due to growing concerns over data security and its potential ties to the Chinese government.
This law mandated that ByteDance, TikTok’s parent company, must either divest their U.S. operations or face a ban by January 19, 2025.
In compliance with the impending ban, TikTok temporarily shut down in the U.S. and disappeared from app stores on January 18, 2025.
However, the social media platform resumed its services on January 19, 2025, following indications from President-elect Trump of a potential extension.
On January 20, 2025, the day Trump began his second term, he issued an executive order delaying the enforcement of the ban for 75 days (until April 5) to facilitate negotiations for a potential sale of TikTok’s U.S. operations, which are used by millions.
“I am instructing the Attorney General not to take any action to enforce the Act for a period of 75 days,” the order stated.
Among the notable bidders is a group dubbed “The People’s Bid,” led by former Los Angeles Dodgers owner Frank McCourt.
McCourt has partnered with Reddit co-founder Alexis Ohanian and “Shark Tank” investor Kevin O’Leary.
As per previous reports, other interested parties who have shown interest in acquiring TikTok or its U.S. operations, include Microsoft, Walmart, Oracle, and YouTube star Jimmy Donaldson, known as MrBeast, who has joined forces with tech entrepreneur Jesse Tinsley.
Neither TikTok nor ByteDance has commented regarding the app’s sale.
The urgency surrounding TikTok’s sale stems from apprehensions about data security and the platform’s ownership by a Chinese company.
The U.S. government is seeking to transfer ownership to American companies to mitigate potential risks related to national security.
It strives to strike a careful balance between protecting the data of U.S. users and maintaining TikTok’s availability for the millions of users who depend on the platform daily.
As the April 5 deadline approaches, the outcome of these negotiations will determine whether TikTok remains a mainstay in American digital culture or faces restrictions that could alter its operations in the U.S.
