TikTok, the popular social media app, has announced plans to challenge a new US law that requires it to sever ties with its Chinese owners or face a ban in the United States. The app will continue to function for its American users during this time while searching for a non-Chinese buyer. The law signed by President Joe Biden gives TikTok around nine months to find a suitable buyer.
Despite previous success in challenging a similar ban under the Trump administration, finding a buyer for TikTok may prove to be challenging due to the large resources required. Potential buyers could include large technology companies like Meta, Google, or Microsoft, although they may face regulatory scrutiny for possible monopoly concerns. If TikTok fails to find a buyer within the specified deadline, it may no longer be available on app stores in the United States.
TikTok’s future remains uncertain as it navigates through this challenging situation amidst legal battles. China has expressed support for TikTok in this dispute, fearing the precedent it may set for Chinese companies being forced to sell valuable assets. The potential ban on TikTok could benefit Meta and Google, who have launched their own similar platforms.