There’s still no TikTok deal, and apparently the US government is ok with that
When nothing makes sense, everything does.
If you’ve been following the US government and TikTok drama, you might be surprised to learn that the sell deadline for TikTok has come and gone. A sale was supposed to be completed by Friday, December 4. Obviously, that time has passed but it seems like everyone involved is ok with that.
According to a new report from Bloomberg, the US government told TikTok and parent company ByteDance that it wouldn’t face any fines or punishment for missing the deadline. That said, there is apparently still a deal in the works, with the current administration hoping to have it completed before Joe Biden takes office on January 20.
The deal mentioned includes the formation of a new company, TikTok Global, and it involves Oracle, Walmart, Sequoia Capital, and more. The goal is to put American companies in control of content moderation and data in regards to US TikTok operations. It should also be noted that whatever deal is proposed will also have to be approved by China.
While the deal seems promising, it was put on the backburner as US elections heated up. According to Bloomberg, “TikTok has filed multiple challenges against the ban, which are winding their way through the courts, with deadlines in certain proceedings extending past January. Several judges have already blocked the ban from going into effect and the Commerce Department said it would comply with those court rulings as the government appeals.”
With some of these deadlines extending past January, it will be interesting to see how Joe Biden views the ban and the possible sale. It’s quite possible that it could end up going in a totally different direction if Biden decides to not enforce the ban.
What do you think? Surprised that the possible TikTok ban and sale is taking this long or was this to be expected? Let us know down below in the comments or carry the discussion over to our Twitter or Facebook.
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