Overview

• Under a 2024 law, ByteDance faces a TikTok ban unless it divests its U.S. operations by the deadline.
• President Trump signed an executive order on June 19 extending the sale deadline by 90 days to September 17, 2025.
• The proposed deal would split TikTok U.S. from ByteDance with 80% of shares held by non-Chinese investors and 20% retained by ByteDance.
• Oracle, Blackstone and entrepreneur Michael Dell have emerged as leading contenders to back the U.S. unit.
• Beijing’s approval remains pending after Trump’s tariffs on Chinese imports led China to block the transaction.