U.S. President Donald Trump revealed on Sunday that his administration is in discussions with four different groups regarding the sale of Chinese-owned social media platform TikTok, emphasizing that all options remain viable, Reuters reported.
TikTok’s future has been uncertain since a law requiring its parent company, ByteDance, to sell the platform on national security grounds, or face a ban, came into effect on January 19. After assuming office on January 20, Trump signed an executive order postponing enforcement of the law by 75 days.
When asked aboard Air Force One about the possibility of a deal soon, Trump responded, “It could,” noting that several interested parties are in the mix. “We’re dealing with four different groups, and a lot of people want it … all four are good,” he added.
Neither TikTok nor ByteDance has commented on the situation outside regular business hours.
The uncertainty surrounding TikTok has drawn interest from multiple potential buyers, including former Los Angeles Dodgers owner Frank McCourt. Analysts estimate the platform’s value could reach as much as $50 billion.
With the deadline approaching, the negotiations are expected to intensify as stakeholders assess their options for acquiring the popular social media platform.