TikTok in the US found a new buyer 10 days before a possible ban on the service

On January 19, a ban on the continued operation of the short video platform TikTok in the United States comes into force, unless its owner, the Chinese company ByteDance, agrees to sell the service to any American company before that day. Without waiting for this date, businessman Frank McCourt’s Project Liberty group announced on Thursday that it had sent an offer to purchase the service to its owner, CNBC writes.

Image source: Solen Feyissa/unsplash.com

«”We put forward ByteDance’s proposal to realize Project Liberty’s vision to reimagine TikTok—one built on an American technology stack that puts people first,” McCourt said. He emphasized that in the future the platform will not rely on the current algorithm. Users’ digital safety will be a priority, and millions of Americans will be able to continue using the platform.

A Project Liberty spokesman said the group was not disclosing the financial terms of the offer and confirmed that ByteDance had received the offer.

Billionaire Frank McCourt, who made his fortune in real estate, is the founder of Project Liberty, an initiative aimed at creating a “healthier, more equitable internet.” He announced plans to buy TikTok back in May last year to “create an alternative to the existing technology model that has colonized the Internet.” Project Liberty intends to move TikTok to an open source platform that will give users more control over their data.

A US law passed last year to protect Americans from apps controlled by unfriendly foreign countries requires TikTok to split from its parent company, ByteDance, under threat of a ban.

TikTok appealed the law to the US Court of Appeals for the District of Columbia Circuit, which after review ruled in favor of the defendant because the government’s arguments in favor of the ban, citing a threat to national security, were sufficiently convincing. It was previously reported that ByteDance would rather close the service in the US than sell it to anyone.

admin

Share
Published by
admin

Recent Posts

TSMC is already churning out chips using the improved 3nm N3P process technology — N3X is next

In April 2025, at the North American Technology Symposium, TSMC announced that it had begun…

1 hour ago

TSMC is already churning out chips using the improved 3nm N3P process technology — N3X is next

In April 2025, at the North American Technology Symposium, TSMC announced that it had begun…

1 hour ago

SK hynix revenue and profit growth exceed analysts’ expectations

As noted the day before, analysts expected SK hynix to post a 38% quarterly revenue…

3 hours ago

Intel CEO Makes Key Staff Changes to Cut Red Tape

Intel CEO Lip-Bu Tan, who took over last month, has continued to reshape the company’s…

3 hours ago

Discord Creator Steps Down as CEO to Focus on New Future for Company

Discord co-founder Jason Citron is stepping down as CEO. His successor will be former Activision…

6 hours ago

Google Gemini Loses AI Race — Users Prefer ChatGPT and Meta AI

Gemini's AI has about 350 million monthly users, significantly fewer than OpenAI's ChatGPT and even…

6 hours ago