TikTok has deployed Washington power brokers and $1,500-an-hour attorneys to fend off a new law barring the app unless its Beijing-based parent, ByteDance Ltd., divests. With a $4.8 million ad campaign, a full-court press on Capitol Hill and the US Constitution, TikTok is in a multifront fight for its survival.
"They're out in full force," said Joel Thayer, a Republican lawyer who helped push the legislation, arguing the company's data collection and ties to the Chinese government make it a national security threat. "It's end-of-life for them. It's a very well-orchestrated play."TikTok's fate rests in part with US courts after it sued to overturn the law signed by President Joe Biden forcing ByteDance to sell the app by Jan. 19 or be barred from operating in the US. The government's response is due Friday ahead of oral arguments in September, and the company is prepared to take its case to the Supreme Court.
With more than 170 million monthly US users, TikTok has a lot at stake. A ban would exclude ByteDance from the world's most lucrative advertising market and give an immediate boost to rivals like Meta Platforms Inc.'s Reels or YouTube's Shorts.
This story is from the July 27, 2024 edition of Business Standard.
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This story is from the July 27, 2024 edition of Business Standard.
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