As many of you have heard by now, TikTok could be in trouble if they do not find a buyer for the company. This is due to the US government essentially threatening to ban the app if they are not acquired by a US company over national security concerns as TikTok is owned by ByteDance, a company based in China.
However, it now seems that there is a chance that TikTok might not need to sell themselves off anymore. This is according to a report from The Wall Street Journal who claims that ByteDance is actually in talks with the US government about coming to a resolution that might not necessarily result in TikTok having to be sold off.
In the video below by CNBC, they revealed that initially the talks were about restructuring the company in such a way that would make it less of a national security threat. These talks were actually taking place before US President Donald Trump stepped in and indicated that he would prefer if a US company, such as Microsoft, were to take over TikTok’s operations.
BREAKING: ByteDance & the U.S. government are discussing options that could allow it to avoid a sale of TikTok – Dow Jones pic.twitter.com/cWy78vjluQ
— CNBC Now (@CNBCnow) September 9, 2020
However, the new report suggests that these talks might not have completely come to an end and that things could change in such a way that would not require TikTok to be sold. It is unclear as to how this will end, but last we heard, China had imposed new rules that would make it harder to export Chinese technology, which could negatively impact a potential sale. This means that if these talks are successful, it could be a compromise in which both sides (kind of) get what they want.