President Donald Trump has announced that his administration is negotiating with four different groups interested in purchasing TikTok, a Chinese-owned social media platform.
This development comes after a law requiring ByteDance, TikTok’s owner, to sell the app on national security grounds or face a ban took effect on January 19.
The situation has attracted several potential buyers, including former Los Angeles Dodgers owner Frank McCourt, who are interested in acquiring the fast-growing business valued at up to $50 billion.
Truth Live News recalls that Trump signed an executive order delaying the enforcement of the law by 75 days after taking office on January 20.
When asked about a potential deal, Trump stated, “We’re dealing with four different groups, and a lot of people want it … all four are good.”
TikTok and ByteDance have yet to comment on the development.