With the April 5 deadline for TikTok’s shutdown in the US approaching, President Donald Trump expressed confidence that a deal to keep the platform operational will be finalized in time. Speaking aboard Air Force One on March 30, Trump suggested that an extension could be granted if necessary, stating, “There’ll be a deal with TikTok.”
TikTok’s parent company, ByteDance, was originally required to divest its US operations by January 19 under the “divest-or-ban” bill passed last year. The app briefly disabled access on that date but resumed operations after Trump signed a 75-day extension, moving the deadline to April 5. Several investor groups have since emerged with bids to acquire TikTok’s US assets.
Blackstone, the investment firm that recently acquired Hipgnosis Songs Fund, is reportedly considering taking a stake in a bid led by Susquehanna International Group and General Atlantic. Their proposal would spin off TikTok’s US operations into an independent entity with Chinese ownership reduced to below 20%, in line with legal requirements. This investor group is considered a leading contender.
Oracle Corporation, which has worked with TikTok on Project Texas, is another frontrunner. The initiative aimed to ensure US user data remained within the country, but the effort failed to satisfy national security concerns, leading to bipartisan support for the divest-or-ban bill. Oracle has since engaged in discussions with White House officials, including Vice President JD Vance and National Security Adviser Mike Waltz, regarding a potential acquisition. Vance recently stated that negotiations are on track to conclude by early April.
Other potential buyers include Perplexity AI, which has proposed merging its operations with TikTok’s US business while allowing up to 50% government ownership following a public offering valued at $300 billion. Additionally, Project Liberty, led by former Los Angeles Dodgers owner Frank McCourt, has submitted an undisclosed bid, while another group led by Employer.com founder Jesse Tinsley has secured backing from YouTuber MrBeast, Roblox co-founder David Baszucki, and Anchorage Digital CEO Nathan McCauley.
