Jan 10, 2025 11:58:00

Former Dodgers owner Frank McCourt's Project Liberty officially files for bid to acquire TikTok

In the United States, the '

TikTok Ban Act ' has forced TikTok to choose between 'selling its American business' or 'ceasing its service in the United States.' Recently, 'Project Liberty' by Frank McCourt, former owner of the MLB Los Angeles Dodgers, has officially come forward to acquire TikTok in order to keep its business in the United States.

People's Bid For TikTok - Project Liberty
https://www.projectliberty.io/peoples-bid-for-tiktok/

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Billionaire Frank McCourt's Project Liberty proposes bid for TikTok's US assets | Reuters

https://www.reuters.com/technology/billionaire-frank-mccourts-project-liberty-proposes-bid-tiktoks-us-assets-2025-01-09/

Project Liberty is a project that McCourt has been working on since 2021 with the aim of 'changing social media,' and after the TikTok Ban Act was passed, he announced his intention to acquire TikTok's US business.

Former Dodgers owner McCourt seeks to buy TikTok's U.S. business - Bloomberg
https://www.bloomberg.co.jp/news/articles/2024-05-15/SDISBUT1UM0W00

In a statement announcing the official acquisition, McCourt said, 'We proposed to ByteDance that we align our Project Liberty vision with 'rebuilding TikTok on a user-first, American-made technology foundation.'' 'By keeping the platform independent of TikTok's current algorithms and avoiding a business continuity ban, millions of Americans can continue to enjoy TikTok. We look forward to working with ByteDance, President-elect Trump and the next Administration to make this deal a reality.'

Ahead of January 19 Deadline, Project Liberty Announces a Formal Offer to Acquire TikTok US
https://www.prnewswire.com/news-releases/ahead-of-january-19-deadline-project-liberty-announces-a-formal-offer-to-acquire-tiktok-us-302346575.html

'This is the deal that can save TikTok,' said Kevin O'Leary, chairman of O'Leary Ventures and McCourt's partner. 'Project Liberty has brought together the right people, the right vision and the right technology to avoid a ban on TikTok. This is a win for all Americans.'

Project Liberty President Tomika Tillman also said, 'Project Liberty is the right buyer for TikTok's U.S. business. We have the technology, resources and team to protect TikTok's status as a cultural cornerstone of the internet. We respect ByteDance's position and are exploring all legal options to preserve the business.' 'We believe our bid is the right path for the millions of Americans who want to continue using TikTok.'

The company will refrain from disclosing the planned acquisition price.