Group Led By Billionaire Frank McCourt Makes Formal Bid To Buy TikTok's U.S. Assets
HuffPost
"Shark Tank" investor Kevin O'Leary is part of the effort.
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. “By keeping the platform alive without relying on the current TikTok algorithm and avoiding a ban, millions of Americans can continue to enjoy the platform.”
“We look forward to working with ByteDance, President-elect [Donald] Trump, and the incoming administration to get this deal done,” he added.
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.”
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