- Apr 12, 2001
TikTok owner ByteDance has been granted a seven-day extension on an order from the Trump Administration to sell the short-form video sharing platform (via Reuters).
The administration had previously granted ByteDance a 15-day extension of the order issued in August, which was set to expire Friday. President Trump on August 14 directed ByteDance to divest the app within 90 days.
According to a court filing on Wednesday, however, the Chinese company now has a new deadline of December 4 to sell TikTok to a domestic U.S. company.
ByteDance has also reportedly offered the U.S. government a new proposal aimed at addressing its concerns, a person briefed on the matter told Reuters.
ByteDance remains in protracted talks with Walmart and Oracle on a deal that would divest it of the social media app and create a new U.S.-based company called TikTok Global.
In September, a federal judge granted TikTok a preliminary injunction that temporarily halted an order from the Trump Administration that would have banned new downloads of the app in the United States because of the risks posed by their data collection practices and Chinese ownership.
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Article Link: ByteDance Granted Seven-Day Extension of TikTok Sale