ByteDance prefers TikTok shutdown in US if legal options fail

Technology

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. 

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

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