TikTok's Chinese Owner ByteDance Prefers Shutting it Down in US than Selling it: Reports

ByteDance, the Chinese parent company of TikTok, is facing a crucial decision amidst legal battles in the US. With speculation rife about potential bans on TikTok, ByteDance is reportedly considering shutting down the app rather than selling it. This move comes as ByteDance deems TikTok's algorithms integral to its overall operations, making a sale with these algorithms highly improbable. A US legislation signed by President Biden mandates TikTok to divest from ByteDance within nine months or face a total ban. TikTok slammed this bill and said it could trample the free speech rights of Americans. TikTok has said, it will challenge this legislation in court.

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