TikTok responds to rumors China wants to ask Musk to buy platform: ‘pure fiction’
As rumors circulated on Monday that China was looking for the owner of the X buy TikToka representative of the latter said it was “pure fiction”.
Bloomberg reported on Monday that Chinese officials are considering an option that includes Musk taking over TikTok’s US operations before the platform is banned in the US, “according to people familiar with the matter”.
The publication said officials in Beijing prefer that TikTok’s parent company, ByteDance, continue to own TikTok as it challenges the impending ban on appeal to the US Supreme Court.
On Friday, the Supreme Court heard oral arguments on the future of TikTok.
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Lawyers for the Biden administration on Friday reiterated their argument that China’s ownership of TikTok poses a “serious” national security risk to American users.
At the conclusion of oral arguments, it remained unclear how the Supreme Court might proceed in the case — although a decision or order is expected before the Jan. 19 injunction takes effect.
Bloomberg said according to the scenario discussed by Chinese officials, X, which is led by Muskwould take over and control TikTok US. In doing so, TikTok could be at an advantage when trying to attract advertisers since it has more than 170 million users in the US. Musk’s artificial intelligence company, xAI, could also benefit from the deal as it could take on the massive amounts of data generated by TikTok, the publication said.
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Those familiar with the discussions say the deliberations are preliminary and no decision has been made on how to proceed.
When asked about the discussions, TikTok told Fox Business: “We cannot be expected to comment on pure fiction.”
TikTok is facing a potential ban due to the Protecting Americans from Apps Controlled by Foreign Adversaries Act, legislation signed by President Biden which passed Congress last April with bipartisan approval. By midnight on January 19, the app could be removed from US app stores unless it is spun off from its parent company.
TikTok has faced with controversies about it is a company based in China and because it is allegedly used as spyware for the Chinese Communist Party. MPs on both sides of the aisle warned against the potential national security threat that TikTok allegedly poses through US phones.
This week, “Mr. Wonderful” Kevin O’Leary announced that he has teamed up with Project Liberty founder Frank McCourt to buy the platform’s US assets from its parent company, ByteDance, and “rebuild the platform in a way that prioritizes privacy of its 170 million US users.”
If their bid to take over the social media platform is successful, O’Leary explained how they would change the platform to better align with US interests.
In addition to giving users ownership of their data and removing “Chinese spyware,” the investor stressed that TikTok has the potential to grow from its current 170 million users to “past 200 million” by restoring user trust.
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The investor also said that he would look to include countries like India, Switzerland, France, Canada and Germany on the platform once these changes are implemented.
“This thing is going to be the world’s biggest television network within two years,” O’Leary said of TikTok’s growth potential.
FOX Business’ Kira Mautone contributed to this report.