Trump aims to finalise TikTok sale by April 5 amidst potential buyers and lawmakers’ calls for deadline extension.
In Short
President Trump announced that a deal to sell TikTok will be completed by April 5, despite calls for an extension from lawmakers.
Potential buyers, including Blackstone and Perplexity AI, have emerged, but details of the sale remain unclear.
U.S. President Donald Trump announced that a deal to sell TikTok, used by over 170 million Americans, will be completed by April 5.
He expressed interest from potential buyers, indicating a desire to keep the app operational.
Despite calls from lawmakers for a six-month extension of the deadline and continued availability on app stores until October 16, Trump insists on the April 5 completion.
Details surrounding the sale process remain unclear, including potential buyers, ByteDance’s involvement, and implications for user experience and data privacy.
Potential buyer
Blackstone, a private equity firm, has emerged as a potential buyer, considering a minority investment in TikTok’s U.S. operations alongside ByteDance’s existing shareholders.
Reports suggest Blackstone may be a stronger candidate than Oracle, whose proposal raised security concerns under the Foreign Adversary Controlled Applications Act.
Additionally, Perplexity AI has proposed a plan to create a new company in the U.S., allowing government ownership of up to 50% following a future IPO.
Senators have deemed Trump’s deadline extension unlawful and argue that Congress should address the issue.
They assert that legislative action is needed to determine the future of TikTok.
Trump has also suggested he might reduce tariffs with China to facilitate the sale by the deadline.
