TikTok sale deadline pushed to January 2026 as investor says talks are in limbo

A billionaire investor seeking to buy TikTok’s US operations said he has been left waiting as the latest deadline for the app’s sale approaches and the future of the platform in the United States remains unclear.

The US has repeatedly delayed the date by which TikTok’s Chinese owner, ByteDance, must sell the platform or face being blocked for American users. US President Donald Trump initially set a deadline of December 16, then extended it to 23 January 2026 through a new executive order.

“We’re just standing by and waiting to see what happens,” investor Frank McCourt told BBC News. “But if the moment arrives, we’re prepared to move forward… we’ve raised the capital to buy it we’ll see.”

TikTok was due to be banned or sold in the US in January under a law passed by Congress in 2024. Lawmakers said ByteDance’s links to the Chinese government posed a national security threat and raised concerns that Beijing could force the company to hand over data on US users. TikTok and its owners have said those concerns are unfounded.

The law was signed by President Joe Biden while he was in office and was upheld by the Supreme Court in early 2025.

Trump and members of his administration have previously claimed a TikTok deal was done and had the blessing of Chinese President Xi Jinping. Trump has also said “sophisticated” US investors would be involved, including Oracle chairman Larry Ellison and Dell Technologies’ Michael Dell.

Administration officials had indicated the deal would be formalised in a meeting between Trump and Xi in October, but the meeting ended without an agreement being reached. Neither ByteDance nor Beijing have since announced approval of a sale, despite Trump’s claims.

When Trump signed his latest executive order extending the deadline, he said in an online post it would lead to a deal being completed.

McCourt, without naming investors selected by Trump, said he was concerned “about a concentration of power and influence because platforms like TikTok are very influencing.” He said he is part of a group of investors that includes Reddit co-founder Alexis Ohanian and Canadian investor Kevin O’Leary.

“My hope would be that whatever happens, that it is shut down or sold, and lands in the hands of people that comply with the law,” McCourt said.

McCourt said he wants to run TikTok without any of its Chinese technology, including its recommendation algorithm, and said his Project Liberty has developed other technology that could be used instead.