If TikTok is sold, who would buy it? What to know as ban looms [Los Angeles Times (CA)]
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Source: Los Angeles Times
TikTok, which is owned by Chinese company ByteDance, has faced scrutiny from U.S. government officials over how it handles the data of its U.S. users and its ties to China. The new law would require ByteDance, a tech company founded in China in 2012, to sell TikTok or the app will be banned in the U.S. In a statement, TikTok said it has invested billions of dollars to keep the data of its U.S. users and a ban would “devastate seven million business and silence 170 million Americans.” The social media site, which has a large presence in Culver CIty, is a key platform for influencers, musicians and Hollywood talent. “This unconstitutional law is a TikTok ban, and we will challenge it in court,” TikTok said in a statement. “We believe the facts and the law are clearly on our side, and we will ultimately prevail.” Now that Congress has voted to ban TikTok, how soon could a sale occur? The new law requires ByteDance to sell TikTok in 180 days to reduce its Chinese investment or
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