(NEXSTAR) – It’s been seven weeks since Donald Trump assumed the presidency, a role in which he promised to “save TikTok” (among many other campaign promises). Time is running out to find a way to keep the app around, at least according to his original extended deadline.
Last year, Congress passed a bill banning the app unless its Chinese parent company, ByteDance, divested. But when Trump took office, he signed an executive order pushing back the enforcement deadline – originally Jan. 19 – by 75 days.
The new deadline is April 5.
But even as time ticks down, the future of TikTok remains as unclear as ever. The Supreme Court upheld the original law, meaning we’re left with essentially the same options as two months ago: a new owner for TikTok or a ban on the app, which would halt app updates and eventually lead to app obsolescence.
Who could buy TikTok?
As he returned to Washington from his Florida home this week, Trump told reporters that a deal could come soon, but did not offer any details on the interested buyers. He said the administration was in talks with “four different groups” about TikTok.
Potential bidders have come forward in recent months, including artificial intelligence startup Perplexity AI and a couple consortiums of tech moguls. One such group started by billionaire businessman Frank McCourt has recruited Reddit co-founder Alexis Ohanian. They reportedly offered ByteDance $20 billion in cash for TikTok’s U.S. platform. Another consortium, which includes Employer.com founder Jesse Tinsley, YouTuber MrBeast and Roblox CEO David Baszucki apparently topped that offer by another $10 billion.
Trump said in January that Microsoft was also eyeing the popular app. Other interested parties include Trump’s former Treasury secretary Steve Mnuchin and Rumble, the video site popular with some conservatives and far-right groups.
It remains unclear if ByteDance even intends to sell off the app, and its highly coveted algorithm. The company has previously said it was unwilling to sell.
A TikTok spokesperson declined to comment to the Associated Press on Tuesday.
What happens if no one buys TikTok in time?
If nothing else comes together in time, Trump has also said he would “probably” extend the enforcement deadline again.
The ban could also be allowed to take effect. If that happens, the app won’t suddenly disappear from your phone, and using it won’t land you in trouble with the law. New users won’t be able to download the app and updates won’t be available in app stores. Internet hosting services also will be prohibited from hosting TikTok.
During his first term, Trump tried to ban TikTok on national security grounds, which was halted by the courts before his administration negotiated a sale of the platform that eventually failed to materialize. He changed his position on the popular app during last year’s presidential election and has credited the platform with helping him win more young voters.
The Associated Press contributed to this report.
