The rumor mill is up and running about the fate of TikTok’s ownership in the U.S. after President Joe Biden signed the “divest or ban” TikTok bill last week.
The legislation requires ByteDance to sell its shares in the app to a U.S. business within 270 days (with the potential for a 90-day extension if significant progress is deemed to be made toward a sale), otherwise it will be banned outright across the U.S.
Still, since this “sell or be banned” threat has been looming over the past four years, and within that timeframe TikTok has been able to embed itself further into U.S. society, the latest moves by the U.S. government aren’t really a surprise.
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The original post is at Marketing Archives – Digiday
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