TikTok’s leadership is exploring a potential split with Chinese parent company ByteDance as it comes under increasing scrutiny from lawmakers.
NetChoice VP and general counsel Carl Szabo discusses whether a TikTok ban violates the First Amendment after the FBI's Christopher Wray warned against the social media platform's influence on 'Varney & Co.'national security risksA divestiture, which could result in a sale or initial public offering, is considered a last resort, and to be pursued only if the company’s existing proposal with U.S.
The Chinese government has made investments in two of the nation's most significant technology firms: ByteDance, the Chinese company that owns global video app TikTok, and Weibo, China's version of Twitter, in a move apparently intended to bolster itagreed to undergo a national security review by the Committee on Foreign Investment in the United States . Under the plan, known as Project Texas, TikTok agreed to bring in Oracle Corp. to host U.S.
CFIUS has stalled in its process, leaving TikTok unsure of whether its plans will be sufficient to continue operating in the country. Members of CFIUS from the Justice Department have been unwilling to accept TikTok's proposal, Bloomberg reported.app has faced continual scrutiny from lawmakers who are concerned that ByteDance may be forced to share data with the Chinese government or could be used as an influence tool by China.
TikTok CEO Shou Chew has been asked to testify before a House committee about the app’s data privacy and security practices, and the company’s relationship with the
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