ByteDance Gets 15-day Extension on TikTok Deal

November 14, 2020 2:30 pm

Beijing (PingWest)- ByteDance has been given a 15-day extension by the Trump administration to reach a deal with American buyers to sell TikTok’s US operation, according to a federal court filing.

TikTok disclosed the extension earlier in a court filing, saying the deal has been extended from November 12 to November 27.

ByteDance requested a 30-day extension last week and said the U.S government had not replied to its efforts to reach a deal and avoid the ban.

On November 12, the previous deadline, a federal appeals court in Washington granted an extension for TikTok and the U.S government to submit additional documents.

Treasury Department cpokesperson Monica Crowley said in a statement that this extension will give the parties and the Committee on Foreign Investment in the US (CFIUS) additional time to resolve this case in a manner that complies with President Donald Trump's order.

On August 6, U.S President Donald Trump signed an executive order, demanding ByteDance sell TikTok to an American company after 45 days, otherwise it would be banned in the U.S for national security concern.

On August 14, Trump signed another executive order that forces ByteDance to sell or spin off its U.S TikTok business within days, setting the deadline of November 12.

Under pressure from the U.S. government, ByteDance has been in talks for a deal with Walmart, Oracle Group to reorganize TikTok’s U.S assets into a new entity.

The U.S commerce department proposed ban on TikTok in two stages soon after Trump’s executive order in August.

The two stages involve blocking U.S downloads of the TikTok and then banning American companies from doing business with TikTok.

Federal Judge Carl Nichols in Washington blocked the phase one restriction in September that would have stopped new downloads for the app.

Then, in late October, Judge Wendy Beetlestone in Philadelphia stopped the second-stage ban in a separate case.