Hip-Hop May Not Lose TikTok If These Potential Buyers Purchase It
The status of TikTok in the U.S. is in limbo once again as the deadline for the Chinese-owned company to divest its interests to a U.S. buyer looms.
On Friday (April 4), President Donald Trump extended the deadline, which was originally slated for Saturday (April 5), for another 75 days.
“My Administration has been working very hard on a Deal to SAVE TIKTOK, and we have made tremendous progress,” he wrote on his Truth social media app. “The Deal requires more work to ensure all necessary approvals are signed, which is why I am signing an Executive Order to keep TikTok up and running for an additional 75 days…We do not want TikTok to ‘go dark.’ We look forward to working with TikTok and China to close the Deal. Thank you for your attention to this matter!”
Congress proposed a ban on TikTok last March, citing concerns for national security over TikTok’s parent company ByteDance’s use of U.S. users’ information. The bill passed the same month. The Supreme Court voted to ban the app back in January if it was not sold to a U.S. buyer by the deadline of Jan. 19. Trump made it one of his first duties as President to extend the deadline to ban after the app after it was briefly removed.
There are several potential billionaire buyers who have shown interest and proposed bids for the popular app. Those making bids include the organization Project Liberty, led by former Los Angeles Dodgers owner Frank McCourt, an investment group that includes internet superstar Mr.Beast, a U.S.-based search engine company called Perplexity AI, Amazon, cryptocurrency foundation Hbar and Zoop, led by the founder of OnlyFans and Private equity firm Blackstone.
Other people who have expressed interest include Bobby Kotick, former CEO of video game company Activision; Doug McMillon, Walmart CEO; Microsoft and streaming platform Rumble.
The purchase would conclude the seemingly never-ending talk about the future of the app, which has a harmonious relationship with rap.