The US Supreme Court on Wednesday said it will hear TikTok’s appeal against a divest-or-ban law that will determine the video app’s fate in the US.
The ByteDance-owned app is expected to be banned for the company’s 170mn users in the US if it does not divest from its Chinese parent under a law due to come into force on January 19, the day before Donald Trump’s inauguration as president.
Nevertheless, some potential buyers and partners have been circling. Frank McCourt, an American media and sports businessman, has established a consortium of investors that would bid for TikTok through his non-profit entity, Project Liberty, which was set up in 2021 to advocate for a more equitable internet. Its investor group had made informal commitments of more than $20bn of capital.
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