ByteDance, the Chinese parent company of TikTok, has stated that they have no plans to sell the popular video app despite a new US law that could force them to do so. The company made this clear on their official social media account, dismissing reports that they were exploring a sale of TikTok’s US operation without its algorithm.
TikTok, which is challenging the law in court, has not yet commented on ByteDance’s statement. The law signed by US President Joe Biden requires ByteDance to sell the business within nine months, with a potential ban looming if they fail to do so.
ByteDance, owned 20% by its Chinese founder and 60% by institutional investors, has denied claims of Chinese government control. TikTok CEO Shou Zi Chew reassured users in a video that the company will continue to fight for their rights in court.
The Chinese government has dismissed concerns over control and warned of repercussions for the US if TikTok is banned. The deadline for the sale would likely fall in 2025, giving ByteDance time to navigate the situation under a new US administration.
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