Reuters exclusively reported that TikTok owner ByteDance would prefer shutting down its loss-making app rather than sell it if the Chinese company exhausts all legal options to fight legislation to ban the platform from app stores in the U.S.
Technology
ByteDance prefers TikTok shutdown in US if legal options fail
25 April 2024, 7:23 pm 1 minute
Market Impact
U.S. President Joe Biden in April signed into law a bill that bans TikTok in the country if ByteDance fails to divest the short video app over the next nine months to a year.
Article Tags
Topics of Interest: Technology
Type: Reuters Best
Sectors: Technology
Regions: Americas
Countries: United States
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
