President Donald Trump said on Truth Social Friday that he’s extending the TikTok sale deadline for one more 75 days.
“My Administration has been working very onerous on a Deal to SAVE TIKTOK, and we have now made super progress,” Trump wrote. “The Deal requires extra work to make sure all crucial approvals are signed, which is why I’m signing an Government Order to maintain TikTok up and operating for a further 75 days.”
In the meantime, a spate of tech corporations and billionaires have positioned bids for TikTok—together with Amazon and AppLovin individually this week—forward of Saturday’s authentic deadline for China-based ByteDance to promote to a U.S. purchaser.
ABC News is reporting that the Trump Administration is contemplating a leasing deal as a substitute.
The leasing choice would let China preserve management of its prized TikTok algorithm, although the U.S. firm holding the lease would have a minority stake, a “supply near the deal” informed the outlet. Oracle would supervise the lease, per NPR. Oracle already gives TikTok with backend tech assist.
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Along with Amazon and AppLovin’s bids this week, formal offers to accumulate the app have been submitted from billionaire and former L.A. Dodgers proprietor Frank McCourt (who teamed up with Shark Tank investor Kevin O’Leary and Reddit co-founder Alexis Ohanian) in January. AI startup Perplexity additionally submitted a more than $50 billion provide to merge its enterprise with TikTok’s U.S. division.
The TikTok saga has been ongoing since April 2024 when lawmakers involved about U.S. consumer information making its way to the Chinese language authorities handed a legislation to pressure ByteDance to promote TikTok or face a ban. Since then, TikTok went dark for its 170 million U.S. users for sooner or later, earlier than Trump signed an executive order extending the deadline for 75 days.
The deadline was April 5 however now there’s a new set of 75 days to get a deal performed.
“We sit up for working with TikTok and China to shut the Deal,” Trump wrote. “Thanks to your consideration to this matter!”
It is a breaking information story and shall be up to date.
