TikTok’s Beijing-based owner ByteDance denied media reports of selling the platform as the company faces a mandate to either divest the firm or be banned from the United States.
“Foreign media reports that ByteDance is exploring the sale of TikTok are untrue,” the company said in an April 25 statement on news aggregation app Toutiao, according to CNN. “ByteDance doesn’t have any plan to sell TikTok.”
The statement was in response to an article published by media outlet The Information on April 25, stating that ByteDance was exploring the possibility of selling a majority stake in TikTok’s business in the United States.The article claimed that the sale would not include the video recommendation algorithm. ByteDance reportedly preferred to sell TikTok to businesses outside the tech industry, it said.
ByteDance’s response comes as President Joe Biden recently signed a bill requiring ByteDance to sell TikTok, and if it fails to do so, the app would be banned from U.S. app stores and web-hosting services. Earlier, the Senate passed the bill in a 79–18 vote.
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