An investor group led by former Los Angeles Dodgers owner Frank McCourt has secured over $20 billion in capital commitments to potentially acquire TikTok's U.S. operations, as ByteDance faces a January 19th deadline to sell or shut down the platform.

McCourt's "The People's Bid for TikTok" initiative has gained momentum with businessman Kevin O'Leary joining the effort. O'Leary, who recently merged his TikTok-buyout crowdfunding platform WonderfulTikTok.com with People's Bid, has stated they would proceed with the purchase even without TikTok's proprietary algorithms.

Key developments:

• ByteDance must sell or effectively shut down TikTok by January 19th
• Supreme Court oral arguments scheduled for January 10th
• President Biden can extend the forced-sale deadline by up to 90 days
• O'Leary has been in contact with President-elect Trump regarding the situation

The bid faces significant challenges, as ByteDance remains firm in its position against selling the platform. The Chinese government, which owns a stake in ByteDance, considers TikTok's algorithms a crucial asset and a major obstacle to any potential sale.

If the ban takes effect, experts suggest existing users may maintain access temporarily, though the platform's longevity would be limited without the ability to release updates. Users are already discussing using VPNs to access TikTok if a U.S. shutdown occurs.

The outcome largely depends on both the Supreme Court's decision and ByteDance's willingness to negotiate, with McCourt expecting more serious sales discussions to begin after the court ruling.

"We'll buy it without the algorithm. We don't need them. We'll do it ourselves and make TikTok wonderful again," O'Leary stated on X, addressing concerns about the platform's future without its core technology.

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