ByteDance, the owner of TikTok, is reportedly planning to shut down the app instead of selling it in response to a potential ban.

TikTok’s owner ByteDance is reportedly willing to shut down the app instead of selling it if all legal options to fight a US ban are exhausted. The core algorithms used by TikTok are crucial for ByteDance’s operations, making a sale with algorithms unlikely. TikTok’s CEO vows to fight the law mandating a sale or ban, with ByteDance considering selling its stake in the US. American buyers are expressing interest, but ByteDance seems reluctant to sell, despite potential bids from wealthy individuals like Steven Mnuchin and Bobby Kotick. The potential ban would impact app stores and internet service providers in blocking access to TikTok.

Read more on nypost.com