Trump said he would “most likely” give TikTok a 90-day extension to avoid the ban
Kevin O'Leary, chairman of O'Leary Ventures, joins “America's Newsroom” to discuss his efforts to buy TikTok after the Supreme Court upholds the upcoming sell-or-ban law.
There may be no clock Running out for TikTok sooner than some previously thought. Social media platform TikTok may receive a lifeline from President-elect Trump, a critic. On Sunday, Trump told NBC News that he would give TikTok a 90-day extension from Jan. 19 after he takes office on Monday.
On Friday, TikTok issued a statement warning of a “possible shutdown” if it doesn't sell its Chinese-owned parent company by Sunday, saying it was disappointed the Supreme Court upheld a bipartisan law that would have banned the app.
The TikTok logo is seen in this illustration photo taken on Dec. 28, 2024 in Warsaw, Poland. (Jaap Arriens/NurPhoto via Getty Images/Getty Images)
POTENTIAL TIKTOK BAN: WHICH SOCIAL MEDIA APPS ARE SHARING IN THE APP STORES
“Today's statements by both the Biden White House and the Department of Justice failed to provide the necessary clarity and certainty to service providers who are integral to keeping TikTok accessible to more than 170 million Americans,” TikTok said in a statement.
The social media company called on the Biden administration to make sure the ban is not enforced, adding that if the White House does not do so, TikTok “will be forced to go dark.”
WHAT IS REDNOTE? TikTok Boosts Popular Chinese App Before 'Refugees' Ban
“Shark Tank” investor Kevin O'Leary put a $20 billion cash offer on the table to buy the program.
“There's a reason Congress put this decision before the Supreme Court. There's a reason they ruled in favor of it. It's not worth the risk,” O'Leary said. “And so the obvious solution is to sell it to an American syndicate on order.”
Kevin O'Leary reportedly offered $20 billion to buy TikTok. (Getty Images/Photo Illustration/Getty Images)
This isn't the first time Trump has considered helping the video-sharing app. Last month, Trump admitted he had a “warm spot in my heart.” TikTok after using it in the last presidential campaign.
“He has repeatedly stated that he believes that TikTok is an app that expresses the First Amendment rights of tens of millions of Americans, and that the federal government cannot simply shut down that First Amendment right and violate the constitutional rights of tens of millions of Americans. Those who express themselves freely in this program,” said Caroline Leavitt, Trump's incoming White House press secretary.Maria Bartiromo's Wall Street“Friday.
“However, of course the best outcome for everyone is for an American company to own this program,” Leavitt said.
The Senate on Tuesday night approved a forced sale of China-owned TikTok after passing a larger foreign aid package. (Photo by Jalal Gunes/Anadolu via Getty Images/Getty Images)
TikTok, which has taken the internet by storm during the COVID-19 pandemic, has drawn controversy due to its parent company's ties to the Chinese government. Lawmakers on both sides of the aisle have expressed concern that the app could be weaponized or used to collect large amounts of user data.
GET THE FOX BUSINESS BY CLICKING HERE
Currently, TikTok's parent company ByteDance has until midnight to sell the platform.
