TRUMP GIVES TIKTOK 75 MORE DAYS TO CHANGE OWNERSHIP
Get Zack Morris and A.C. Slater on the line because TikTok has once again been saved by the bell.
Facing a federally mandated 4/5 deadline to detach from its China-based parent company, ByteDance, the embattled content platform was granted a 75-day extension today by President Donald Trump.
In January, Trump chose not to enforce the 2024 ruling despite it's being upheld by the Supreme Court, which noted "well-supported national security concerns regarding TikTok’s data-collection practices and relationship with a foreign adversary."
“The deal requires more work to ensure all necessary approvals are signed,” Trump said on Truth Social. "We do not want TikTok to 'go dark.'"
Earlier this week, the New York Times reported that Amazon made a late bid to acquire TikTok but that it was not being taken "seriously."
Said to be in the mix as new investors are Oracle and Blackstone, two among many prospective parties to a process that would seemingly fly in the face of the aforementioned order that TikTok must be formally sold.