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TikTok's new suitor is former Dodgers owner Frank McCourt, as another lawsuit pushes back against ban

·1 min

Another wealthy investor is planning to bid for TikTok after the signing of a law by President Joe Biden last month, which requires TikTok to be sold or face a ban in the US. Frank McCourt, a real estate billionaire and former owner of the Los Angeles Dodgers, aims to acquire TikTok as part of an initiative to create a healthier internet. He plans for TikTok to operate on an open-source, decentralized protocol where users have control over their own data. McCourt is working with investment firm Guggenheim Securities and law firm Kirkland & Ellis on the bid, which is supported by Sir Tim Berners-Lee, the inventor of the World Wide Web. Several other interested parties are also looking to acquire TikTok, but the company has expressed that it is not for sale and has launched a legal battle against the new law. A group of TikTok creators has also filed a separate lawsuit, arguing that the law violates their freedom of speech and would harm their income.