TikTok can breathe easier after the government gave the viral video app until November 27 to finalize a deal that would allay the government's national security concerns.
The 15-day extension was granted, a filing on Friday showed, by the Committee on Foreign Investment in the United States (CFIUS), the entity monitoring foreign investments.
<p>It's the latest move in a series of delays from the Trump administration to finalize a divestment from the video-sharing platform and its Chinese parent company ByteDance. Trump for months <a data-linked-post="2647577095" href="https://dot.la/tiktok-ban-2647577095.html" target="_blank">has raised concern</a> over TikTok's threat to national security, alleging the company shares information with the Chinese government. TikTok and ByteDance deny that.</p><p>On Thursday, the Commerce Department <a href="https://dot.la/when-is-tiktok-getting-banned-2648879669.html" target="_self">announced it wouldn't enforce</a> an executive order that set the 12th as TikTok's last day to sell — the last day in a 90-day period. The decision referenced an earlier ruling in which a judge claimed the decision over a ban wasn't within the government's power. </p><p>That came after weeks of silence from the government, TikTok claims. </p><p>In September, TikTok proposed a plan with Walmart and computer software company Oracle that would mean TikTok becomes a U.S. headquartered company. Trump gave his blessing for the plan, but it hasn't been finalized. </p>
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TikTok won't be forced to sell, at least not for a while.
The Commerce Department said it won't be enforcing the Thursday deadline imposed by Trump's executive order "pending further legal developments."
<p>Executive Order 13942 would have effectively banned Apple from listing TikTok in the app store today. It also would have prevented companies like Amazon from offering web-hosting service for the platform if it is not sold to an American company.</p><p>The Commerce Department, which is responsible for carrying out Trump's order that would have forced a sale by today, released its <a href="https://public-inspection.federalregister.gov/2020-25360.pdf" rel="noopener noreferrer" target="_blank">decision</a> Thursday. </p><p>The department cites a Philadelphia court ruling against the shutdown in October. The judge in that case, a lawsuit brought by three TikTokers, said the crackdown lies beyond the government's power.<br/></p><p>A handful of other cases are still pending, though. On Tuesday, the company <a href="https://dot.la/tiktok-ban-2648863316.html" target="_self">filed a petition</a> requesting an extension on potential divestment. It also called for a review of the Committee on Foreign Investment in the United States. </p><p>While President Trump in September agreed to a deal that would include Walmart and Oracle, TikTok said they hadn't heard an update from the administration in weeks. </p><p>It's been months of back and forth between TikTok and the Trump administration stemming from allegations that its parent company, Beijing-based ByteDace, would hand over data to the Chinese government. The video-sharing platform says it has not and would not do that. </p><p>In the middle of it all, TikTok's former CEO Kevin Mayer <a data-linked-post="2646028687" href="https://dot.la/kevin-mayer-leaves-disney-for-tiktok-chapek-regime-moves-on-2646028687.html" target="_blank">stepped down</a> after about three months on the job. He announced his new role this week, backing media and entertainment companies as a senior advisor for investment firm Access Industries.</p><p>TikTok could not immediately be reached for comment. </p>
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The Trump administration's deadline for ByteDance to close a deal in the U.S. is around the corner and TikTok says it hasn't gotten an update in weeks.
The Committee on Foreign Investment in the United States (CFIUS) had set November 12 as the last date to close a business deal, but it didn't specify what would happen if things fell through.
<p>That's what led TikTok to file a petition in the Court of Appeals for the D.C. Circuit on Tuesday. They're calling for a review of CFIUS and a 30-day extension on the deadline. </p><p>"With the November 12 CFIUS deadline imminent and without an extension in hand, we have no choice but to file a petition in court to defend our rights and those of our more than 1,500 employees in the US," TikTok told the <a href="https://apnews.com/article/donald-trump-business-courts-united-states-2bc81b6af540d493f287e86752a46b6a" rel="noopener noreferrer" target="_blank">Associated Press </a>in a written statement.</p><p>In September, Beijing-based ByteDance announced it would sell part of its business to Walmart and Oracle, a plan <a href="https://dot.la/trump-gives-tiktok-and-oracle-deal-his-blessing-2647720220.html" target="_self">Trump approved.</a> His administration calls TikTok a national security threat, accusing the video platform of sharing user data with the Chinese Communist government, which the company denies. </p><p>The move could buy the Chinese company time as Trump is set to leave office early next year. An advisor to president-elect Joe Biden <a href="https://www.cnbc.com/2020/11/10/what-happened-to-tiktok-deal-trump-administration-silent.html" rel="noopener noreferrer" target="_blank">told CNBC</a> it was "too early to say" Biden's thoughts on the social media app. </p><p>Meanwhile, TikTok's former CEO Kevin Mayer, who left amid sustained pressure from the Trump administration, has joined Len Blavatnik's investment firm Access Industries as a senior advisor. </p><p>His role will place him at the center of media and entertainment deals — Access has stakes in giants like Warner Music Group, audio streaming service Deezer and DAZN, a sports streaming service. Mayer, a former Disney executive, left TikTok after just under three months on the job. </p><p>"I look forward to helping Access build on the success of its leading media and entertainment businesses as a key component of my future endeavors," Mayer said in a statement announcing the news. </p>
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