Deadline for TikTok to remain online in the U.S. fast approaching
(CBS, KYMA/KECY) - The clock is ticking for TikTok to remain online in the United States. The popular social network app has nine days left to find a buyer.
Last year, Congress passed a bill forcing TikTok's Chinese parent company, ByteDance, to sell the platform due to national security concerns.
President Donald Trump already extended the deadline twice and is reportedly considering a third reprieve.
Billionaire businessman Frank McCourt and his partners are among several investment groups bidding to acquire the app.
McCourt told CBS Mornings he thinks there's a 50/50 chance of taking over TikTok's U.S. operation saying, "We don't know ultimately what the Trump administration is going to decide, but we do believe that they will abide by the law. The law requires the disentanglement from the Chinese algorithm. We can do that. We don't know what China's going to do either."
TikTok went dark in the U.S. on the day of President Trump's inauguration for about 12 hours after the initial deadline for a deal came and went.
Critics warn user data is at risk as long as ByteDance retains ownership of TikTok. ByteDance insists it does not share data with the Chinese government.
