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Apple Reportedly Keeping TikTok in Store Following AG's Reassurance
PYMNTS.com· 2025-04-06 23:32
Core Viewpoint - Apple has decided to keep TikTok in its App Store for at least 75 more days following a letter from Attorney General Pam Bondi, which aligns with President Trump's executive order extending the pause on a U.S. TikTok ban [1][4]. Group 1: Apple and TikTok - Apple received a letter from Attorney General Pam Bondi urging compliance with President Trump's executive order regarding TikTok [1]. - The decision to keep TikTok in the App Store comes after a previous ban earlier in the year due to national security concerns related to TikTok's Chinese ownership [4]. - Apple had previously restored TikTok in February after receiving a similar letter from Bondi [4]. Group 2: TikTok Ownership and Sale - The White House set a deadline for TikTok's owner, ByteDance, to sell the app, with various potential buyers including Amazon and private equity groups [2]. - A new agreement under negotiation would give outside investors 50% of TikTok's U.S. business, while ByteDance's stake would be reduced to just under 20% [3]. - Recent U.S. tariffs on Chinese imports, including a 54% duty, have caused ByteDance to reconsider the sale [3]. Group 3: Trump's Position and Amazon's Interest - Trump initially supported banning TikTok but reversed his stance last year, advocating for a solution even after legal challenges [5]. - Amazon is reportedly interested in acquiring TikTok, which could enhance its influence over consumer behavior, particularly among younger demographics [5][6]. - An acquisition by Amazon could integrate TikTok's advertising ecosystem with its retail infrastructure, linking content discovery to direct purchasing [6].
Amazon makes last-minute bid for TikTok: report
TechXplore· 2025-04-02 18:56
Group 1 - Amazon has made a last-minute bid to acquire TikTok, which is facing a potential ban in the US if not sold by its Chinese owner, ByteDance [1][2] - The bid was communicated in a letter to officials involved in the sale discussions, aimed at addressing US national security concerns [1] - President Trump has expressed confidence in finding a buyer for TikTok's US operations by the upcoming deadline, despite downplaying the risks of a ban [2][5] Group 2 - The most likely resolution involves existing US investors in ByteDance rolling over their stakes into a new independent global TikTok company, with additional US investors like Oracle and Blackstone joining to reduce Chinese ownership [3] - TikTok has over 170 million users in the US and is under threat from a law requiring it to separate from ByteDance or face a ban [4] - The deadline for TikTok to be sold is set for April 5, 2025, with potential extensions from President Trump if a deal is not finalized [5][6] Group 3 - Trump's administration may offer to reduce tariffs on China to facilitate Beijing's approval for the sale of TikTok [6] - Trump has shifted from supporting a ban to defending TikTok, recognizing its popularity among younger voters [7] - Other bidders for TikTok include Frank McCourt's Project Liberty initiative, AI startup Perplexity, and internet personality MrBeast [7]