ByteDance investors lead talks to acquire TikTok's US operations

TikTok's future is uncertain as a law requires its parent company, ByteDance, to sell the app or face a ban in the U.S. This law took effect on January 19, driven by concerns about national security. Nearly half of Americans use TikTok, and U.S. officials worry that its Chinese ownership could allow the Beijing government to influence American users. Recent discussions led by the White House suggest that major non-Chinese investors in ByteDance might buy TikTok's U.S. operations. This plan involves spinning off a U.S. entity for TikTok and reducing Chinese ownership to below 20%, which would comply with U.S. law. Key players in these talks include Susquehanna International Group and General Atlantic, both represented on ByteDance's board, along with private equity firm KKR. In the meantime, TikTok has defended itself, stating that its data is stored in the U.S. and managed by Oracle, which oversees content moderation for American users. Opponents of the proposed ban argue it violates the First Amendment by limiting access to foreign media. Investors are eager to remove Chinese stakeholders from TikTok's U.S. business. Reports indicate they are aiming to finalize a deal before an enforcement deadline set for April 5. U.S. President Donald Trump has expressed his support for keeping TikTok alive in America, noting its role in his re-election campaign. Other groups interested in acquiring TikTok include billionaire Frank McCourt and YouTube star Mr. Beast. Oracle would play a key role in the new setup, managing data and software for TikTok if the deal goes through.