TikTok investors chasing a U.S. deal say they remain stuck as Washington nears another deadline. One bidder says he has money ready, but no clarity on timing.
Frank McCourt said his group is waiting for the next U.S. decision on a forced sale, reports BBC News.
Deadline Pressure Returns
The U.S. has repeatedly pushed back the date for ByteDance to sell TikTok’s U.S. operations.
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The latest deadline approaches as the White House weighs another extension, the report adds.
President Donald Trump appears set to delay the deadline again. That would mark another pause in a saga that began with a 2024 law.
Congress passed the measure after lawmakers raised national security concerns. They argued China could force ByteDance to share U.S. user data.
TikTok and ByteDance have denied those claims. They have said the fears lack evidence and overstate Beijing’s leverage.
Investor Group Waits
McCourt told BBC News he remains “standing by” as deadlines keep moving. He said his team has lined up funding and can act quickly.
McCourt backs a proposal under his Project Liberty effort. He said he wants TikTok to comply with U.S. law or exit the market.
He also warned about platform influence and concentrated power. He said ownership should follow clear governance and legal guardrails.
Deal Talk, Few Details
Trump and aides have previously suggested a deal existed. Officials have also pointed to “sophisticated” U.S. investors as potential buyers.
Trump has named allies as possible participants.
Those names included Larry Ellison of Oracle Corp. (NYSE:ORCL) and Michael Dell of Dell Technologies Inc. (NYSE:DELL).
Administration officials had suggested a Trump-Xi meeting could finalize terms. The meeting ended without any announced approval for a sale.
China Factor Looms
Neither ByteDance nor Beijing has publicly signed off on a U.S. divestment. Analysts now expect another extension rather than a near-term closing.
McCourt’s consortium includes Alexis Ohanian and Kevin O’Leary. He said the group wants to run TikTok without Chinese technology.
That plan would exclude the current recommendation algorithm, he said. He said Project Liberty has alternate technology ready for deployment.
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