US President Donald Trump has confirmed that his administration is in discussions with four different groups regarding the sale of Chinese-owned social media platform TikTok, Reuters reported.
"We're dealing with four different groups, and a lot of people want it ... all four are good," Trump told reporters aboard Air Force One on Sunday when asked if a deal was imminent.
TikTok’s future in the United States has been uncertain since a law requiring its parent company, ByteDance, to either sell the platform or face a ban came into effect on 19 January due to national security concerns. After taking office on 20 January, Trump signed an executive order delaying enforcement of the law by 75 days. The order instructed the US Attorney General to pause any action, providing time to assess options that could ensure national security while avoiding an abrupt shutdown of the widely popular app.
The uncertainty surrounding TikTok has attracted several potential buyers, including former Los Angeles Dodgers owner Frank McCourt. Analysts estimate that the fast-growing platform could be worth as much as $50 billion. However, neither TikTok nor ByteDance immediately responded to Reuters' requests for comment outside of normal business hours.
With the 75-day delay nearing its end, TikTok faces a critical period of negotiations. The next two months will determine whether the platform continues to operate in the US through a sale or a shift in policy.