Alphabet reportedly considered joining a consortium to invest in TikTok before talks “fizzled” according to Bloomberg, meaning that Microsoft and Oracle remain the two main potential acquirers of TikTok’s US business. But TikTok isn’t yet ready to give in to President Trump’s ‘sale or shutdown’ ultimatum.

The company says it will file a lawsuit against Trump’s administration over its recent executive order. Spokesperson Josh Gartner criticised “a lack of due process as the administration paid no attention to facts and tried to insert itself into negotiations between private businesses” and promised that “To ensure that the rule of law is not discarded and that our company and users are treated fairly, we have no choice but to challenge the Executive Order through the judicial system”.

With a new deadline of 12 November for a sale set by the administration – and remember, that’s nine days after an  election that could see a new president taking office in January – TikTok’s fate in the US remains very uncertain.

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Stuart Dredge

Music Ally's Head of Insight

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