ByteDance decides against selling TikTok despite US ban

Chines company ByteDance has decided against selling short form video content platform TikTok despite a recent US law that requires its sale or face a ban in America.

The announcement was made official on its social media platform Toutiao.

“ByteDance doesn’t have any plans to sell TikTok,” the company wrote.

The clarification from the Chinese company came after reports circulating suggested that it is exploring the potential sale of TikTok’s US operations without its algorithm.

TikTok has previously stated that it would legally challenge the “unconstitutional” law.

A couple of days ago, a law was signed by US President Joe Biden, aims to address concerns over Beijing’s control of private companies and data.

The Chinese government has dismissed these concerns and warned that a TikTok ban would have consequences for the US.

“We are confident and we will keep fighting for your rights in the courts,” TikTok CEO Shou Zi Chew said in a video posted on the platform this week.

After the ruling, the company has been given nine months to sell the business, with an additional three-month grace period before a potential ban could be enforced.

The deadline for the sale is likely to be in 2025, after the 2024 presidential election.