Could a TikTok sale happen? Project Liberty makes an offer as prohibition looms

On January 14, 2025By Littum

As the deadline for a potential TikTok ban in the US approaches, billionaire and former Los Angeles Dodgers owner Frank McCourt’s Project Liberty confirmed making a formal offer to Bytedance, the platform’s Chinese parent company, to buy the social media giant’s US assets.

The offer, announced Thursday by Project Liberty, comes ahead of a Jan. 19 deadline for ByteDance to sell the platform or face a ban on national security grounds.

Project Liberty president Tomicah Tillemann said in a statement that organization would not disclose the bid amount. However, the group previously said it had secured $20 billion in verbal commitments from a group of investors ready to bid on TikTok.

Last year, President Joe Biden signed a law banning the foreign-owned app unless it sells its US assets. The legislation received overwhelming bipartisan support from lawmakers, who expressed concern about the Chinese government’s potential to spy on the more than 170 million Americans who use TikTok and to conduct covert influence operations.

The social media giant has repeatedly stated that it does not pose a security threat and the proposed ban violates free speech protections under the US Constitution’s First Amendment.

On Friday, the Supreme Court heard arguments from the US government and TikTok about the impending ban, which President-elect Donald Trump has recently said he does not support.

In late December, Trump urged the court to put an end to the January 19 deadline to give his incoming administration “the opportunity to pursue a political resolution of the issues in the case.”

TikTok did not immediately respond for comment on the bid when contacted by USA TODAY.

What would Project Liberty buy?

If Project Liberty acquired TikTok, it would only be the US part of the platform and would not include TikTok’s algorithm, which China views as its intellectual property. McCourt told CBS last month.

The non-profit plans to migrate TikTok’s user base to an American-built digital infrastructure designed to put people back in charge of their data, according to a statement released Thursday.

Who is this potential buyer, Project Liberty?

In 2021, McCourt invested $100 million to establish Project Liberty, an initiative aimed at decentralizing the internet, Anna Feagan, McCourt Global’s director of communications, told USA TODAY. In 2023, he increased his investment to $500 million.

“The internet is broken and it’s urgent that we fix it,” in a statement released by McCourt on Project Liberty website. “The institutions and ideals we cherish most are being destroyed for the use of free apps that steal our personal data and digital identities.”

While TikTok has declined they would consider selling the app, McCourt believes the parent company would be more open to discussions if and when the Supreme Court shuts down their US operation, according to Reuters.

To date, McCourt and his team have had “initial interviews” with members of the incoming administration with hopes of finding a solution before the app is shut down.

“By keeping the platform alive without relying on the current TikTok algorithm and avoiding a ban, millions of Americans can continue to enjoy the platform. We look forward to working with ByteDance, President-elect Trump and the incoming administration to to get this deal done,” McCourt said.

USA TODAY’s Jessica Guynn, Rachel Looker, Rebecca Morin, Ken Tran, Anthony Robledo and Reuters contributed to the reporting of this story.

Greta Cross is a national trends reporter at USA TODAY. Follow her on X and Instagram @gretalcross. Story idea? Email her at [email protected].