TikTok Responds to Rumor China Wants to Ask Musk to Buy Platform: ‘Pure Fiction’
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As rumors spread on Monday that China is looking to buy X’s owner TikTok, a representative of the latter said it was “pure fiction”.
Bloomberg reported on Monday that Chinese authorities were “looking at the option of acquiring TikTok’s US operations before the platform’s ban in the US, according to people familiar with the matter”.
The publication writes that Beijing officials prefer that TikTok’s parent company, ByteDance, continue to own TikTok.
On Friday, the Supreme Court heard oral arguments on the future of TikTok.
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WASHINGTON (Reuters) – A U.S. federal appeals court on Friday upheld a ruling that would force China-based ByteDance, the popular U.S.-based short-form video app, to shut down or face a ban early next year. (Reuters/Dado Ruvic/File Photo/Reuters)
Lawyers for the Biden administration reiterated their argument on Friday that TikTok’s Chinese ownership poses a “serious” national security threat to US users.
At the end of oral arguments, it was not clear how the Supreme Court would proceed with the case – a decision or order is expected before the January 19 ban is implemented.
According to Bloomberg, X, which is controlled by Musk, will buy and control TikTok US, according to Chinese officials. With more than 170 million users in the United States, Tik Tok could be useful when trying to attract advertisers. In addition, Musk’s artificial intelligence company xAI could be in the deal, because it can take a large amount of data. TikTok, the publication reported.
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People familiar with the discussions say the discussions are preliminary, and no decision has been made on how to proceed.
“We can’t wait to comment on pure fiction,” TikTok told Fox Business when asked about the discussions.
TikTok may be banned due to the US Foreign Enemy Controlled Apps Act. Act signed by President Biden It received bipartisan approval in Congress last April. By midnight on January 19th, the app may be removed from US-based app stores unless it is removed from its parent company.
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U.S. President Joe Biden speaks at the National Association of Counties Legislative Conference on Monday, Feb. 12, 2024, in Washington, DC, U.S. (Chris Kleponis/CNP/Bloomberg via Getty Images/Getty Images)
It has TikTok. Controversy ensued. It is a company based in China that has been used as spyware software for the Chinese Communist Party. Legislators on both sides They warned Tik Tok is said to be a potential national security threat through US phones.
This week, “Mr. Awesome” Kevin O’Leary announced that he is teaming up with Project Freedom founder Frank McCourt to buy the platform’s US assets from its parent company, ByteDance, and “build the platform as it grows.” Prioritizes privacy Of its 170 million American users.
If their bid to acquire the social media platform is successful, O’Leary explained how they would change the platform to better suit US interests.
In addition to giving users ownership of their data and removing “Chinese spyware,” the investor emphasized that TikTok has the potential to grow from its current 170 million users to “past 200 million.”
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Once these changes are made, the investor said how they look to bring countries like India, Switzerland, France, Canada and Germany to the fore.
“This thing is going to be the biggest television network in the world in two years,” O’Leary said of TikTok’s growth potential.
Fox Business’ Kira Mouton contributed to this report.