Deal for Americans to Buy China's TikTok Remains in Limbo as Latest Deadline Looms

The fate of TikTok’s U.S. operations remains uncertain as another deadline for the app’s sale approaches, leaving interested American investors in a state of limbo.

China’s massively popular TikTok continues to face an uncertain future in the United States as the latest deadline for its sale looms. The app, owned by Chinese company ByteDance, has been at the center of a geopolitical battle between the U.S. and China, with American lawmakers expressing concerns over national security and the potential for Beijing to access user data.

In 2024, Congress passed a law requiring ByteDance to sell TikTok’s U.S. operations or face a ban for American users. The law, signed by then-President Joe Biden, was upheld by the Supreme Court in early 2025. The U.S. has repeatedly delayed the deadline for the sale, with President Donald Trump appearing poised to extend it for a fifth time on Tuesday.

Frank McCourt, a billionaire investor interested in acquiring TikTok’s U.S. operations, told BBC News that he and his group of investors have been left in limbo as they await the outcome. “We’re just standing by and waiting to see what happens,” McCourt said. “But if the moment arrives, we’re prepared to move forward… we’ve raised the capital to buy it — we’ll see.”

The Trump administration has previously said that a “final deal” for the TikTok sale was done and had the blessing of Chinese President Xi Jinping, but neither ByteDance nor Beijing have announced approval of a sale. The lack of confirmation has led most analysts to conclude that another extension is inevitable.

McCourt expressed concerns about the concentration of power and influence in platforms like TikTok, stating, “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.” His investment group, which includes Reddit co-founder Alexis Ohanian and Canadian investor Kevin “Mr. Wonderful” O’Leary, aims to operate TikTok without any of its Chinese technology, including its powerful recommendation algorithm. McCourt’s Project Liberty has developed alternative technology that could be used instead.

Breitbart News previously reported that Vice President JD Vance revealed the primary investors in the American group that will own TikTok do not include McCourt and his group:

Under the terms of the deal, a new joint-venture will operate TikTok’s U.S. business, with ByteDance holding a minority stake of less than 20 percent. The remaining investors include Oracle, private equity firm Silver Lake, and Abu Dhabi investment fund MGX. President Trump has also indicated that media mogul Rupert Murdoch and tech entrepreneur Michael Dell will be part of the takeover group.

A key aspect of the arrangement involves ByteDance leasing its algorithm to the new U.S. entity, with Oracle tasked with retraining it. Additionally, Oracle will manage a secure cloud containing U.S. users’ data, implementing controls to prevent other countries from accessing it. This move aims to address long-standing concerns about who would control TikTok’s powerful recommendation software and the associated security and data privacy risks.

The ongoing uncertainty surrounding TikTok’s future in the U.S. has left users, creators, and potential investors in a state of flux. As the app continues to grow in popularity, with millions of Americans using it daily, the pressure to find a resolution intensifies. The concerns over national security and data privacy have led to a complex geopolitical situation that has yet to be resolved.