Group Led By Billionaire Frank McCourt Makes Formal Bid To Buy TikTok
Trending News
16 hours, 11 minutes ago

Group Led By Billionaire Frank McCourt Makes Formal Bid To Buy TikTok

Huff Post  

LOADING ERROR LOADING An organization founded by billionaire Frank McCourt, the former owner of the Los Angeles Dodgers, and its partners on Thursday said they made a formal bid to acquire the U.S. assets of TikTok as the popular social media platform faces a possible nationwide ban later this month. Project Liberty, an organization that aims to create a more equitable internet and promote the transition to an open data economy, launched The People’s Bid For TikTok last year — a consortium of partners with the aim of purchasing the U.S. operations of the platform from its Chinese parent company, ByteDance. “We’ve put forward a proposal to ByteDance to realize Project Liberty’s vision for a reimagined TikTok — one built on an American-made tech stack that puts people first,” McCourt said in a statement. Project Liberty said its plan would involve moving TikTok’s U.S. user base of about 170 million people to “American-built digital infrastructure that is designed to put people back in charge of their data and relationships.” The organization said it’s uniquely positioned to acquire the platform, in part, because it has the funds required to complete the transaction, “including expressions of interest from investors, including major private equity funds, family offices, and high net worth individuals for adequate equity capital; and debt financing from one of the largest banks in the United States.” The value of the offer has not been disclosed.

History of this topic

Billionaire Frank McCourt's Project Liberty proposes bid for TikTok's US assets
4 hours, 38 minutes ago
‘Shark Tank’ Investor Joins Bid To Buy TikTok
2 days, 16 hours ago
‘Shark Tank’ investor joins former Dodgers owner in last-ditch effort to buy TikTok
Trending News
3 days, 8 hours ago
Potential TikTok bidder seeks a CEO, prepares business overhaul
2 weeks, 6 days ago
What Billionaire Frank McCourt Would Actually Do With TikTok
3 weeks, 6 days ago
TikTok's Future in the US Is Unclear. We Check Back in With the Billionaire Who Wants to Save It
4 weeks ago
TikTok’s U.S. presence in jeopardy as judges back potential ban
Trending News
1 month ago
Canada Orders Dissolution Of TikTok's Business In The Country But Won't Block App
2 months ago
U.S. billionaire eyes TikTok takeover to save internet from Big Tech
6 months, 3 weeks ago
If Biden is going after TikTok, expect Trump to back the app
6 months, 3 weeks ago
The side-effects of the TikTok tussle
6 months, 3 weeks ago
Billionaire Frank McCourt says he’s putting together a consortium to buy TikTok
7 months, 3 weeks ago
TikTok owner ByteDance files lawsuit against US law forcing app’s sale
8 months ago
The TikTok law kicks off a new showdown between Beijing and Washington. What’s coming next?
8 months, 2 weeks ago
Joe Biden accused of hypocrisy over signing of TikTok ban bill, critics ask him to delete campaign account
8 months, 2 weeks ago
U.S. President Biden signs bill that will see TikTok sold or banned next year
8 months, 2 weeks ago
Senate passes bill forcing TikTok’s parent company to sell or face ban, sends to Biden for signature
8 months, 2 weeks ago
Questions swirl over the future of TikTok. Who could own it? How will the platform operate?
8 months, 2 weeks ago
TikTok star urges US to force sale after witnessing 'terrifying' algorithm amid Israel-Palestine war
8 months, 2 weeks ago
The House Passes a TikTok Ban Bill That’s on the Fast Track
55 years ago
Legislation that could force a TikTok ban revived as part of House foreign aid package
8 months, 3 weeks ago
TikTok Bill faces uncertain fate in Senate as regulatory legislation stalls
9 months, 2 weeks ago
Republican senator calls out Fox News host’s ‘lies’ over TikTok ban in on-air clash
9 months, 3 weeks ago
Former Trump-advisor Steve Mnuchin plans to buy TikTok from ByteDance, China furious at ‘Robber’s Logic’
9 months, 3 weeks ago
Former Treasury Secretary Steve Mnuchin says he's putting together investor group to buy TikTok
9 months, 3 weeks ago
Former Treasury Secretary Steven Mnuchin is assembling an investor group to buy TikTok
9 months, 3 weeks ago
As TikTok bill steams forward, online influencers put on their lobbying hats to visit Washington
9 months, 4 weeks ago
"Shark Tank" investor plans to buy TikTok if bill to ban the app pushes through
10 months ago
New Bill Threatens To Ban TikTok In The U.S. Unless Platform Divests Chinese Ownership
10 months ago
Biden on TikTok: 'lol' or national security worry?
10 months, 4 weeks ago
Biden campaign trumpets joining TikTok, despite his own administration’s security concerns
10 months, 4 weeks ago
TikTok owner ByteDance's chief warns against mediocrity as AI brings disruption
11 months, 1 week ago
TikTok Shop launches in the U.S. as the company bets big on e-commerce
1 year, 3 months ago
TikTok clampdown will move ahead, says top Democrat on intelligence committee
1 year, 9 months ago
Gap grows between TikTok users, lawmakers on potential ban
1 year, 9 months ago
For some, TikTok is a path to riches and the American dream. With a ban, it could all disappear
1 year, 9 months ago
TikTok Hearing: Influencers make their case to the press
1 year, 9 months ago
TikTok intensifies PR campaign ahead of CEO's Capitol Hill testimony
1 year, 9 months ago
US tells ByteDance to sell TikTok. It says: ‘If protecting national security…'
1 year, 9 months ago
U.S. demands that TikTok’s Chinese owners sell stakes or face ban
1 year, 9 months ago
TikTok CEO to testify before US Congress over security concerns
1 year, 11 months ago
TikTok inching toward U.S. security deal to avoid sale, reports NYT
2 years, 3 months ago
Microsoft CEO says failed TikTok deal ‘strangest thing I’ve worked on’
3 years, 3 months ago
How TikTok came back to life after Trump’s threats
3 years, 10 months ago
Report: TikTok sale pushed by Trump is shelved
3 years, 10 months ago
Little-known investment firm Centricus circles TikTok with long-shot bid
4 years, 3 months ago
TikTok ban: Here’s the latest on the app’s fate
4 years, 3 months ago
Trump says ByteDance can’t keep control of TikTok in Oracle deal
4 years, 3 months ago
TikTok deal could still be pulled and app ban reinstated if Chinese owner retains any control, Trump says
4 years, 3 months ago

Discover Related