Frank McCourt Jr. is leading a bid to acquire TikTok amid concerns about its algorithm's addictive nature. He and his team, prepared to purchase the platform, have expressed their disinterest in the algorithm, particularly as China is firm on not selling it. The ongoing legislative pressures on TikTok have enhanced acquisition interest from various parties. McCourt's initiative, named Project Liberty, aims to empower users regarding their data sharing. He made a $20 billion offer in May 2024, waiting for updates amidst competition from other bidders including notable tech figures.
"We're in a good position if there is a transaction," McCourt said, emphasizing they are ready to buy TikTok without needing the algorithm.
"After last year's law passed requiring TikTok to separate from its Beijing-based parent company, ByteDance, or face a permanent ban in the U.S., the potential to own TikTok has attracted a slew of interest from notable people and companies."
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