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ByteDance reportedly reaches deal to sell TikTok American operations

The Verge Saturday, 1 August 2020 ()
ByteDance reportedly reaches deal to sell TikTok American operationsIllustration by Alex Castro / The Verge

TikTok parent company ByteDance has reportedly agreed to sell its American operations to prevent the Trump administration from banning it in the US, according to Reuters.

It was not clear Saturday whether the deal would involve Microsoft, or whether it would stave off a ban. The administration has threatened to ban the video-sharing app for several weeks; Secretary of State Mike Pompeo said on July 7th a ban was “something we’re looking at.” President Trump said Friday “we’re banning them from the United States,” but didn’t provide specifics other than he planned to take action as early as Saturday.

TikTok is a subsidiary of Beijing-based ByteDance, and has been scrutinized for its privacy practices and potential ties to China’s...
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Video Credit: Reuters Studio - Published
News video: TikTok's owner offers to forego stake - sources

TikTok's owner offers to forego stake - sources 01:21

China's ByteDance has agreed to divest the U.S. operations of TikTok completely in a bid to save a deal with the White House, after President Donald Trump said on Friday he had decided to ban the popular short-video app, two people familiar with the matter said on Saturday. Ciara Lee reports

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