Entrepreneur and former Los Angeles Dodgers owner Frank McCourt’s Project Liberty and its consortium of partners in The People’s Bid said on Thursday they proposed to make a formal bid to ByteDance to buy TikTok’s U.S. assets. The move comes ahead of a Jan. 19 deadline by which ByteDance has to sell the platform or face a ban under a law signed by President Joe Biden on April 24. McCourt and his firm Project Liberty formed the consortium last year to buy social media platform TikTok in the United States. “By keeping the platform alive without relying on the current TikTok algorithm and avoiding a ban, millions of Americans can continue to enjoy the platform. We look forward to working with ByteDance, President-elect Trump, and the incoming administration to get this deal done,” McCourt said in a statement.

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Persons: Frank McCourt’s, ByteDance, Joe Biden, McCourt, Trump, ” McCourt Organizations: Los Angeles Dodgers, Liberty, U.S, ByteDance Locations: United States