Frank McCourt Leads $20 Billion Effort to Acquire TikTok's U.S. Operations

The former Dodgers owner frames the bid as a solution to national security concerns and data exploitation, with a January deadline looming for ByteDance to sell or face a U.S. ban.

• Frank McCourt, founder of Project Liberty, is spearheading a $20 billion bid to purchase TikTok's U.S. operations, which must be sold by January 19, 2025, under bipartisan legislation.
• A federal appeals court upheld the law requiring TikTok's parent company, ByteDance, to sell its U.S. business or face a nationwide ban due to national security concerns.
• McCourt emphasized that his bid, dubbed 'the people’s bid,' aims to create a platform that respects user privacy, shifting control of data back to individuals rather than exploiting it for profit.
• The Chinese government has stated it will not sell TikTok's algorithm, which McCourt acknowledges would significantly reduce the platform's valuation compared to its global worth of $200 billion.
• President-elect Donald Trump has indicated he prefers a sale over a ban, and McCourt expressed confidence in his ability to secure the deal while addressing privacy and security challenges.

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