Kevin O'Leary: We've got a 'real bid' and a sale is TikTok's 'only option'
O'Leary Ventures Chairman Kevin O'Leary reacts to the latest developments around the California wildfires, a potential TikTok sale and his latest meeting with President-elect Trump at Mar-a-Lago.
President Joe Biden will not seek to enforce the ban on the popular social media platform TikTok that is slated to take effect on Jan. 19 due to legislation passed last year, the Associated Press reported, citing a U.S. official.
"Our position on this has been clear: TikTok should continue to operate under American ownership. Given the timing of when it goes into effect over a holiday weekend a day before inauguration, it will be up to the next administration to implement," a White House official noted in a statement, according to ABC News.
Fox News Digital reached out to the White House on Friday but did not receive a comment in time for publication.
TIKTOK PLANNING TO SHUT DOWN IN US ON SUNDAY: REPORTS
Over 700K users flock to TikTok alternative ‘RedNote’ in two days
Gxstocks’ Lydia Hu joins ‘Varney & Co.’ to report on the latest news emerging from the TikTok ban as users and creators prepare for the potential ban.
Biden signed off last year after Congress passed a massive multi-billion-dollar package stuffed with items such as foreign aid and the TikTok-related measure.
The Supreme Court issued a ruling on the matter on Friday, opting not to slap down the ban.
"There is no doubt that, for more than 170 million Americans, TikTok offers a distinctive and expansive outlet for expression, means of engagement, and source of community. But Congress has determined that divestiture is necessary to address its well-supported national security concerns regarding TikTok’s data collection practices and relationship with a foreign adversary. For the foregoing reasons, we conclude that the challenged provisions do not violate petitioners’ First Amendment rights," the high court held.
Trump, the second U.S. president to notch non-consecutive White House wins, is set to be sworn in on Monday.
POTENTIAL TIKTOK BAN: WHAT SOCIAL MEDIA APPS ARE POPPING UP IN APP STORES
The key to unlocking the TikTok deal is to buy without the algorithm, Frank McCourt says
Billionaire entrepreneur Frank McCourt, Jr. discusses the future of TikTok in the United States on 'The Claman Countdown.'
"President Trump has repeatedly expressed his desire to save Tik Tok, and there’s no better deal maker than Donald Trump," Trump-Vance transition spokeswoman Karoline Leavitt said in a statement. Trump has tapped Leavitt to serve as his White House press secretary.
If Tiktok is sold so that it severs ties with Chinese company ByteDance and is no longer viewed as a foreign adversary controlled application, it would no longer be subject to a ban under the law.
'MAKE TIKTOK WONDERFUL AGAIN': KEVIN O'LEARY EXPLAINS HIS PLAN TO SAVE THE SOCIAL MEDIA PLATFORM
Trump admin will find a way to 'preserve' TikTok, Mike Waltz says
Trump National Security Adviser pick Rep. Mike Waltz, R-Fla., tells 'Special Report' that the incoming administration will work to on a deal to keep the 'fantastic platform' in place for Americans while protecting their data.
GET Gxstocks ON THE GO BY CLICKING HERE
Rep. Mike Waltz, R-Fla., who Trump tapped to serve as his national security adviser, said during an appearance on "Fox & Friends" that the incoming administration "will put measures in place to keep TikTok from going dark," noting that the legislation allows for pushing back the ban if a deal is in the works.
