CNN – The U.S. government, invoking national security concerns, has set a condition for TikTok: be sold by its Chinese parent company, ByteDance, or face a ban. President Biden’s recent legislation has initiated a countdown for the sale of the social media app. This has sparked discussion about potential buyers who could successfully navigate antitrust hurdles and China’s opposition to a forced sale. While big tech companies like Google and Meta are expected to face antitrust issues, tech giants have both the means and the scrutiny to consider such a purchase. Microsoft, following its successful acquisition of Activision Blizzard, stands out as a plausible contender without a direct app competitor to TikTok. Former contenders, Walmart and Oracle, along with former Trump Treasury Secretary Steven Mnuchin, are showing interest. Mnuchin’s involvement, despite potential conflict of interest due to his insider knowledge from previous negotiations, has drawn particular attention. Analysts suggest that any deal may need to sidestep TikTok’s key asset—their algorithm—to appease regulators and the Chinese government.
By Brian Fung