ByteDance would rather close down TikTok in the US than sell it, Reuters reported, citing four unnamed sources.
AdvertisementByteDance, the Chinese parent company of TikTok, would rather close down TikTok in the US than sell it if legal means to fight a proposed US ban fail, Reuters reported, citing four unnamed sources.
The deadline to sell the app is set for January 19, 2025, but an extension is possible if ByteDance demonstrates progress toward a sale.
AdvertisementIt follows a report in The Information earlier this week that said ByteDance was exploring options to sell a majority stake in TikTok's US business.
ByteDance has said that the rumors that it plans to sell TikTok "are untrue."
Persons:
Joe Biden, ByteDance, —, TikTok, divests, Shou Zi Chew
Organizations:
Reuters, Service
Locations:
China