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TikTok on the verge of extinction: Court allows sale or shutdown until January!
A US appeals court upholds law forcing TikTok to sell or close. ByteDance has no plans to sell.
TikTok on the verge of extinction: Court allows sale or shutdown until January!
In a major legal battle, TikTok has suffered a bitter defeat after a Washington appeals court confirmed that the company must either be sold or closed by mid-January 2025. The court decision follows legislation introduced by President Joe Biden in April to address national security concerns over the popular app's ties to China. Loud krone.at The court stated that the law was consistent with the US Constitution and was not intended to suppress freedom of speech.
The subsidiary of the Chinese company ByteDance argued that the law violated freedom of speech. However, the appeals court rejected this claim, emphasizing that the aim was to protect the American people from possible data misuse by the Chinese government. TikTok has 170 million users in the United States, and in its lawsuit, the company expressed concerns that a separation from ByteDance would not be practical because it would pose both business and legal challenges, reports abc.net.au.
Threatened restrictions for TikTok
To escape legislative pressure, TikTok could be forced to initiate a sale process, but ByteDance considers this unlikely. The statutory 270-day separation period is expiring, and the US President has the right to extend this period by three months if progress is seen in sales negotiations. However, TikTok has stressed that the closure of the app could be seen as inevitable if a sale is not successful. This will result in a precision landing by January 19, 2025, according to the lawsuit.
Donald Trump, who will be sworn in as the new president on January 20, 2025, had already tried to ban TikTok during his first term in office. Although he abandoned a restrictive stance on the platform during the election campaign, he could try a ban again. Meanwhile, some investors are showing interest in buying TikTok, including Trump's former Treasury Secretary Steven Mnuchin. Still, uncertainties about TikTok's future remain high as pressure to separate from ByteDance remains.