TikTok’s US Sale Faces Fresh Uncertainty as Deadline Nears
A potential sale of TikTok’s US operations remains uncertain, with investors once again left waiting as Washington prepares to push back the deadline for a deal.
Billionaire investor Frank McCourt, who has expressed interest in acquiring the popular short-form video platform, told the BBC that he and his partners are in a holding pattern as the latest cut-off date approaches. The US government has repeatedly postponed the deadline requiring TikTok’s Chinese parent company, ByteDance, to sell the app or face a nationwide ban.
US President Donald Trump is widely expected to extend the deadline for a fifth time on Tuesday.
“We’re just standing by and waiting to see what happens,” Mr McCourt told BBC News.
“But if the moment arrives, we’re prepared to move forward… we’ve raised the capital to buy it – we’ll see.”
Background: Why TikTok Faces a US Ban
Under legislation passed by Congress in 2024, TikTok was required to either be sold or blocked in the US by January this year. Lawmakers argued that ByteDance’s ties to China posed a national security risk, raising concerns that the Chinese government could compel the company to share data belonging to US users.
TikTok and its owners have consistently denied these allegations, stating that such fears are unfounded.
The legislation was signed into law by then-President Joe Biden and was upheld by the Supreme Court in early 2025, cementing the legal basis for enforcement.
Conflicting Signals on a Deal
President Trump and senior members of his administration have previously suggested that a deal for TikTok had already been secured, claiming it had the approval of Chinese President Xi Jinping.
Trump has also said that “sophisticated” US investors would take control of the app, naming Oracle chairman Larry Ellison and Dell Technologies founder Michael Dell among those involved.
Administration officials had indicated that the agreement would be finalised during a meeting between Trump and Xi in October. However, that meeting concluded without any announcement of a deal.
To date, neither ByteDance nor the Chinese government has confirmed approval for a sale, despite repeated claims from the White House. With no fresh indications that an agreement is imminent, many analysts believe another extension of the deadline is unavoidable.
Investor Concerns Over Influence and Control
Without naming the investors reportedly favoured by the Trump administration, Mr McCourt told the BBC that he remains uneasy about the potential concentration of power.
He said he was concerned “about a concentration of power and influence because platforms like TikTok are very influencing”.
Mr McCourt is part of an investor group that includes Reddit co-founder Alexis Ohanian and Canadian entrepreneur Kevin O’Leary.
“My hope would be that whatever happens, that it is shut down or sold, and lands in the hands of people that comply with the law,” he said.
A Vision for a Post-ByteDance TikTok
Mr McCourt has previously outlined plans to operate TikTok without any Chinese technology, including its widely praised recommendation algorithm. He said his organisation, Project Liberty, has developed alternative technology that could replace TikTok’s existing systems if a sale goes ahead.
As the deadline approaches yet again, investors, regulators and millions of US users are left waiting to see whether TikTok’s long-running ownership saga will finally reach a conclusion — or be delayed once more.
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