TikTok owner ByteDance reportedly would rather shut down app than sell it as it faces US ban
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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
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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...
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ByteDance vows to shut TikTok rather than sell
ByteDance, owner of short-form video platform TikTok, insisted it would close the platform in the US before moving to divest its interest, as the algorithms supporting the app are vital to it, Reuters reported.