Technology • Internet & Web
2020-11-14T08:00:01+00:00

TikTok has two more weeks to sell US operations, regulators say

TikTok has two more weeks to sell US operations, regulators say
Credit: Illustration: Pendect, LogoTikTok (Creative Commons Attribution ShareAlike 4.0)

TikTok will now have two more weeks, until Nov. 27, to reach an agreement with Oracle and Walmart and persuade the U.S. government to approve the proposed deal, a court filing on Friday showed. The company said on Tuesday that it requested an extension of 30 days to complete the sale but had not heard from the government for weeks.

Last October, the Committee on Foreign Investment in the U.S., which investigates the national security risks of certain business deals, began examining ByteDance's 2017 acquisition of Musical.ly, a Chinese-owned lip-syncing app that became a hit among teens in the U.S. and would be relaunched as TikTok. The review came at the urging of Sen. Marco Rubio, R-Fla., who wrote a letter to Treasury Secretary Steve Mnuchin raising fears about political censorship and the possibility that the Chinese Communist Party could use the app to advance its foreign policy agenda.

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