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VisitTikTok sold to a non-Chinese entity by end of 2024?
Sold • 50%
Not Sold • 50%
Press releases from TikTok and acquiring company
TikTok and Content Creators Sue U.S. Government Over Forced Sale or Ban, Citing First Amendment
May 14, 2024, 07:00 PM
TikTok and its parent company ByteDance have filed a lawsuit against the U.S. government, challenging a new law that forces the social media app to either be sold to a non-Chinese entity or face a ban in the U.S. by January 19, 2025. The lawsuit claims that the law, known as the Protecting Americans From Foreign Adversary Controlled Applications Act, is unconstitutional and violates the First Amendment rights of TikTok and its users. Additionally, a group of eight TikTok content creators, representing 170 million American users, has filed a separate lawsuit, echoing the company's arguments and emphasizing the law's impact on their free speech. The creators are represented by the First Amendment defense firm Davis Wright Tremaine. Legal experts suggest that the litigation could last for years, and the outcome remains uncertain. The law, signed by President Joe Biden, aims to address national security concerns related to TikTok's Chinese ownership. Critics argue that banning TikTok will not effectively protect user data and that the issue could have been resolved differently.
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Owned by ByteDance • 33%
Owned by U.S. company • 33%
Owned by consortium • 33%
Owned by ByteDance • 25%
Sold to U.S. Tech Company • 25%
Sold to Non-Tech U.S. Entity • 25%
Other Foreign Non-Adversary • 25%
ByteDance sells its stake • 50%
ByteDance retains its stake • 50%
ByteDance retains majority ownership • 25%
ByteDance divests majority stake • 25%
ByteDance sells TikTok • 25%
No change in ownership • 25%
Settlement • 33%
Creators Win • 33%
Government Wins • 33%
Tech Company • 25%
Foreign Non-Chinese Company • 25%
No Buyer • 25%
Private Equity • 25%