ByteDance is exploring a deal that would keep TikTok running in the U.S. without selling its operations, Jack Sidders, Lisa Abramowicz, and Jonathan Ferro of Bloomberg reports, citing board member Bill Ford. ByteDance is looking at options for the social media app that could involve changing control locally to ensure it complies with U.S. legislation, Ford said in an interview with Bloomberg Television. Companies in the social media space that compete with TikTok include Meta (META), Alphabet’s (GOOG) YouTube (GOOGL), Pinterest (PINS), Reddit (RDDT) and Snap (SNAP).
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