TikTok's Uncertain Future: Talks with the White House Intensify

Potential buyers for TikTok are in direct talks with the White House amid concerns about its Chinese ownership. The app faces a possible ban or sale due to national security risks. President Trump is considering extending a 75-day deadline for TikTok's sale or ban decision.

The future of TikTok hangs in the balance as potential buyers bypass its Chinese owner, ByteDance, to negotiate directly with the White House, reports Axios. TikTok, a popular short-video app, became a subject of national security concerns under a new law enacted on January 19, necessitating ByteDance to sell the app or face a ban.

President Donald Trump's administration, shortly after taking office, issued an executive order providing a 75-day extension to enforce the law. The White House, TikTok, and ByteDance have not provided comments on the ongoing discussions. Trump previously expressed interest in the U.S. government owning a stake in the widely-used app.

Among potential buyers is former Los Angeles Dodgers owner Frank McCourt. Analysts project TikTok's valuation could reach up to $50 billion. Trump has stated discussions with several parties are ongoing and anticipates a decision on TikTok's future could emerge by February, possibly extending the current deadline.

(With inputs from agencies.)