ByteDance has denied reports that the company plans to sell TikTok after US President Joe Biden signed a law banning TikTok if ByteDance does not sell the company’s US operations.
The Information previously reported that ByteDance was internally considering ways to sell a majority stake in TikTok, specifically to a company outside the tech industry.
Reuters reports, citing four sources, that ByteDance is likely to choose to shut down TikTok in the US rather than sell it. Even if there is no other choice
Under TikTok’s ban, the company has between nine months and a year to decide whether to sell its US operations. Or choose to be banned outright. But the company can use court measures to extend time further.
TikTok has expressed its determination to fight this law to the hilt. They point out that this is a violation of the First Amendment to the US Constitution, which prohibits the passing of laws that restrict the freedom of expression of Americans.
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