AssetID: 53572521
Headline: UNCAPTIONED: Former Treasury Secretary Looking to Form Investor Group to Purchase TikTok
Caption: Former Treasury Secretary Looking to Form Investor Group to Purchase TikTok. NBC reports that former Treasury Secretary Steven Mnuchin is looking to put together an investor group to acquire ByteDance's TikTok. The news comes as a bipartisan bill works its way through Congress that threatens to bring an end to the platform's existence in the United States. On March 13, the House of Representatives passed the bill, which would force ByteDance to divest the platform or face a ban on the app in the U.S. "I think the legislation should pass and I think it should be sold. It's a great business and I'm going to put together a group to buy TikTok." "This should be owned by U.S. businesses. There's no way that the Chinese would ever let a U.S. company own something like this in China.", Steven Mnuchin, Former Treasury Secretary, via CNBC's “Squawk Box”. NBC points out that the bill still requires Senate approval before it heads to President Joe Biden, who has indicated that he would support the bill if it passes through Congress. However, TikTok CEO Shou Zi Chew has said that selling TikTok is not a viable option. According to PitchBook data, , ByteDance was valued at , $220 billion in 2023. Mnuchin has yet to specify the potential valuation of a deal to acquire the social media platform or which investors may be interested in the deal. expressed interest in a deal to purchase TikTok. At the same time, the 'Wall Street Journal' reported that former Activision Blizzard CEO Bobby Kotick has also expressed interest in a deal to purchase TikTok. THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: former,treasury,secretary,looking,form,investor,group,purchase,TikTok,Activision Blizzard,technology,video,social media,share,Senate approval,United States,America,China,Biden
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