3 ms·
TikTok's Fight to Avoid a US Ban
- TMWNN 4y agoSubtitle: "Ahead of next week’s showdown in DC over ongoing national security concerns, the Chinese-owned social media app is considering all its options—from going along with a forced sale to taking the offensive." From the article: >TikTok’s leadership is now considering more drastic measures to keep operating in the US, including separating from its parent, according to people familiar with the matter. A divestiture or stake sale would require China’s approval, and it’s not clear there would be a buyer. But TikTok’s leaders think the alternative—a full ban—would be a bigger risk to ByteDance’s financial success, one of the people says. >Breaking off from ByteDance, which TikTok hasn’t told Congress it’s considering, would be a last resort. (In the end, ByteDance may not have a choice: The Biden administration recently warned the company to spin off TikTok or face a ban, according to people familiar with the matter.)