President Joe Biden signed a bill Wednesday that would force Chinese tech giant ByteDance to sell TikTok within nine months or ban it in the U.S., but who will actually swoop in on the social media platform? The question remains whether the company can acquire the company.
TikTok has said it plans to challenge the bill in court, threatening to invoke US law against the US, but if the effort fails, it will have nine months to sell before being banned. The social media platform will need to find a buyer quickly, as there is a lag in the market.
TikTok influencers Florin Vitan (left) and Alessia Lanza perform a video on the social network TikTok at the TikTok influencer training facility “Deaf House” (Photo by MIGUEL MEDINA/AFP via Getty Images)
Kevin O’Leary, Chairman of O’Leary Ventures, speaks at the DC Blockchain Summit on Tuesday, May 24, 2022 in Washington, DC, USA. Photographer: Valerie Plesch/Bloomberg
While many potential buyers will be vying to acquire TikTok, from technology companies to retailers to private equity firms and investment bankers, experts and analysts say some Candidates say they are more likely to buy an app than other candidates, experts and analysts say.be report By CNN.
Legal experts and business analysts told the outlet that US tech giants like Meta and Google are under attack because their large social media presences could raise antitrust red flags. He said it was unlikely.
Meanwhile, Meta has already filed an FTC lawsuit alleging that the tech giant’s acquisitions of WhatsApp and Instagram violated U.S. antitrust laws.
Google is also grappling with an antitrust lawsuit over its search and advertising technology businesses, which experts say makes it a poor candidate to acquire TikTok.
“If it was Amazon, Microsoft, Google or Meta, there would be serious antitrust concerns,” former Justice Department antitrust official Gene Kimmelman told CNN.
“If it’s Intel or Cisco, maybe Oracle, I don’t know,” Kimmelman added. “If someone says it’s Verizon or he’s AT&T, it might not be that big of a deal.”
Jasmine Engberg, principal analyst at eMarketer, said there is a potential Catch-22 in which only the largest and most dominant tech giants may have the resources to acquire TikTok.
Meanwhile, experts point to Microsoft’s recent success in overcoming an FTC lawsuit when it tried to acquire video game company Activision Blizzard in “one of the biggest technology mergers in history,” and said Microsoft has no TikTok option. CNN reported that he believes there may be an opportunity for an acquisition.
Experts have also reportedly pointed to former US Treasury Secretary Steven Mnuchin as a possible candidate. As Breitbart News reported last month, Secretary Mnuchin said he was building a group of investors to buy TikTok from ByteDance.
Former Activision CEO Bobby Kotick and Canadian businessman Kevin O’Leary have also expressed interest in acquiring the Chinese app. wonderful” shark tank He is a television host and chairman of O’Leary Ventures, a private venture capital firm.
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