The app, which was set to be banned, now has a bit more time to find a home and address national security issues

Earlier this month, Bloomberg reported that China was considering a TikTok sale to Elon Musk, the world's richest man and a close ally of President Trump, who already owns the social media platform X.

TikTok’s Chinese parent company has just over two months to find a buyer for the app’s US business or face a nationwide ban, after getting a time extension from President Donald Trump.  There is already competition to own it.

As TikTok faces a potential ban, various bidders, including Elon Musk and Larry Ellison, are key contenders to buy the platform. Meanwhile, Netflix remains a possible option among streaming giants, though the company has not historically pursued major acquisitions.