Sign up to save tools and stay up to date with the latest in AI
bg
bg
1

TikTok To Be Sold By April 5, Trump Says

Mar 31, 2025 - mediapost.com
U.S. President Donald Trump announced plans to finalize a deal for ByteDance to sell TikTok by Saturday, despite calls from lawmakers to extend the deadline. Trump expressed interest in keeping TikTok operational in the U.S., with several potential buyers, including Blackstone, showing interest. Blackstone's involvement could surpass Oracle's bid, which faced security concerns under the Foreign Adversary Controlled Applications Act. The Act restricts foreign ownership and control over the app's operations and data.

Additionally, Perplexity AI proposed a plan to rebuild TikTok in the U.S., allowing the government to own up to 50% of a new company upon a future IPO. Trump's deadline extension has been criticized by U.S. senators, who argue that Congress should handle such revisions. Trump also mentioned the possibility of reducing tariffs on China to facilitate the deal. The public remains uncertain about the specifics of the potential deal, including the impact on American users and data privacy.

Key takeaways:

  • President Trump aims to finalize a deal for ByteDance to sell TikTok by April 5, despite calls to extend the deadline.
  • Blackstone has emerged as a potential buyer, possibly surpassing Oracle due to security concerns with Oracle's proposal.
  • Perplexity AI has proposed a plan to rebuild TikTok in the U.S., allowing the U.S. government to own up to 50% of the new company.
  • Trump is considering tariff reductions for China to facilitate the deal, while U.S. senators argue that Congress should handle deadline extensions.
View Full Article

Comments (0)

Be the first to comment!