An Article Summarized by PYMNTS
President Donald Trump announced that TikTok will have a new owner by the end of the week, as its China-based parent company, ByteDance, faces an April 5 deadline to sell or face a U.S. ban. Trump noted strong interest from potential buyers and suggested China might play a role in facilitating the deal, possibly in exchange for tariff reductions. The deadline was previously extended from January 19, and Trump has indicated he may grant further extensions if needed. Lawmakers have pushed for the sale due to national security concerns over TikTok’s ties to China.
Among the potential buyers, a consortium led by Susquehanna International Group and General Atlantic is reportedly a frontrunner, with Blackstone considering a minority stake. AI search engine company Perplexity has also expressed interest, arguing it could rebuild TikTok’s algorithm without creating a monopoly. TikTok remains a major force in social media, shaping culture and commerce, with research showing that Gen Z and millennials heavily rely on the platform for financial advice and shopping decisions.
For the full article: https://www.pymnts.com/acquisitions/2025/trump-tiktok-sale-will-be-hammered-out-before-deadline/
