Regardless of Kevin O’Leary’s predictions that there would not be a 3rd extension, the White Home has introduced it would prolong the deadline for TikTok’s mum or dad firm, Beijing-based ByteDance, to promote or face a ban.
Final yr, Congress handed a regulation requiring TikTok to separate from ByteDance or face a everlasting ban within the U.S. After a number of extensions, the deadline would have been Thursday, June 19. Now, there might be one other 90 days to try to make a deal.
The brand new deadline might be in mid-September, in response to White Home Press Secretary Karoline Leavitt, who made the announcement Wednesday.
“As he has mentioned many instances, President Trump doesn’t need TikTok to go darkish,” Leavitt mentioned in an announcement.
An government order might be signed this week, she famous.
The potential to personal TikTok has attracted a slew of patrons, together with a bunch referred to as Challenge Liberty, which is made up of billionaire Frank McCourt, “Shark Tank” star O’Leary, and Reddit cofounder Alexis Ohanian.
There are additionally bids from AI startup Perplexity, Oracle co-founder Larry Ellison, cellular promoting firm AppLovin, and Amazon.
Associated: 3 Easy Steps to Begin Making Cash on TikTok
