Frank McCourt Eyes TikTok's U.S. Operations Amid Political Tensions

Billionaire Frank McCourt remains open to partnering with other buyers in acquiring TikTok's U.S. operations, but insists on maintaining control. McCourt's Project Liberty submitted a bid without including TikTok's algorithm, focusing on user data and brand. The move seeks Congressional support amid ongoing U.S.-China tensions.

At the prestigious World Economic Forum in Davos, billionaire Frank McCourt announced his willingness to collaborate with potential partners to acquire TikTok's U.S. operations, provided he retains control. The American businessman emphasized that capital was not the issue, but rather awaiting decisions from TikTok's parent company ByteDance and the Chinese government.

Following President Donald Trump's executive order delaying TikTok's ban, McCourt's interest aligns with calls for a significant U.S. ownership stake, with McCourt's Project Liberty group lodging a bid. His plan excludes TikTok's crucial algorithm, concentrating on the app's users, data, and brand potential. Existing investors have shown interest in partial stake rollovers, lessening the financial burden.

During discussions with the U.S. House select committee on China, McCourt noted bipartisan support for a qualified divestiture. He aims to transition TikTok's 170 million U.S. users to a new platform under Project Liberty, signaling readiness to meet stringent legislative criteria upheld by the Supreme Court.

(With inputs from agencies.)