ByteDance, TikTok shelled out $7 million on lobbying and ads to combat potential U.S. ban
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The TikTok Ban Bill Has Been Signed — Here's How Long ByteDance Has to Sell, and Why TikTok Is Preparing for a Legal Battle
President Biden signed a bill that states if TikTok doesn't cut ties with its China-based parent company ByteDance over the next nine months to a year, it will be banned in the U.S.
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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...