Bloomberg News
@Bloomberg-News·2.8M subscribers·40.1K videos
TikTok’s Latest Deadline to Sell Its U.S. Operations Is Here...Again
Posted
December 4, 2020
Views
25,078
Likes
115
Comments
144
Engagement
December 4, 2020
25,078
115
144
1.03%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
You’re on December 4, 2020. Earlier episodes are to the left, later ones to the right — the row keeps loading as you go. Click any card to open it.
Dec 4, 20204:38Now PlayingOne of the year’s largest tech deals has been put off so long you might have forgotten about it: TikTok’s latest deadline to sell its U.S. operations to American investors is this Friday.
Chinese parent ByteDance Inc. now has only a few days to meet that deadline and close a deal that could value its most successful global asset at $60 billion. ByteDance is set to sell a large stake of its short-form video phenomenon to Walmart Inc. and Oracle Corp. in a hastily compiled agreement, sketched out before the U.S. presidential election.
Another possibility, however, is that nothing will happen.
Multiple deadlines have already come and gone since the U.S. alleged improper closeness between ByteDance and the Chinese government, and demanded that TikTok hand over control to U.S. investors. The deal was set to be finalized on Nov. 12, a date granted by the Committee on Foreign Investment in the United States, which examines national security threats. But that was pushed back by 15 days and then a further week by CFIUS, allowing the companies more time to negotiate final terms.
On Friday, TikTok could finally solidify the transaction, it could fail to do so and face repercussions enforced by the U.S. Justice Department -- or the company could manage to further drag out the process. Much of the urgency around the deal stemmed from President Donald Trump's promises to ban the app, and his administration has recently pulled back from its threats. At the same time, judges have granted preliminary injunctions against a series of TikTok bans. Those cases could lapse when President-elect Joe Biden takes office in January, unless he decides to defend Trump’s orders in court.
Subscribe to our YouTube channel
Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.
To watch complete coverage on Bloomberg Quicktake 24/7, visit or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app.
Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake
Connect with us on…
Breaking News on YouTube
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
