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TikTok gets more time to sell US business

TikTok is getting more time to sell its U.S. business.
TikTok is getting more time to sell its U.S. business.(CNN Newsource)
Published: Nov. 27, 2020 at 4:13 AM EST|Updated: Nov. 27, 2020 at 6:42 AM EST
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(CNN) - The Trump administration has given TikTok until Dec. 4 to find a buyer in the United States.

The short-form video app’s Chinese owner Bytedance is trying to finalize a take-over deal by Oracle and Walmart.

The deadline for selling TikTok has been extended twice in the past month.

In an executive order this summer, President Donald Trump originally set a hard deadline of Nov. 12 for the change in ownership. He called the Chinese-owned social media video-sharing app a threat to national security.

The deal to transfer control of TikTok to Oracle and Walmart has yet to be greenlighted by the U.S. government or Chinese regulators.

More than 100 million U.S. users have downloaded the TikTok app.

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