ByteDance prefers TikTok shutdown in US if legal options fail: report
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Exclusive-ByteDance prefers TikTok shutdown in US if legal options fail, sources say
HONG KONG (Reuters) -TikTok owner ByteDance would prefer to shut down its loss-making app rather than sell it if the Chinese company exhausts all legal options to fight legislation to ban the platform from app stores in the U.S., 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 the sources close to the parent. TikTok accounts for a small share of...
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Reuters: ByteDance would prefer TikTok shutdown in the US instead of divesting
The US government approved the landmark national security package which was signed into law by President Joe Biden yesterday. The new regulation effectively gives TikTok parent company ByteDance an ultimatum to sell TikTok’s US business to a local company in the next nine months or face an effective ban on the platform. Reuters is now reporting that ByteDance is not willing to sell off TikTok to a US company and would rather have its platform shut down. TikTok’s algorithms are deemed core to...
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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