A consortium led by billionaire Frank McCourt, former owner of the Los Angeles Dodgers, has submitted a formal bid to acquire TikTok’s U.S. operations.
This move comes as the popular social media platform faces a potential nationwide ban later this month due to concerns over data security and its ties to Chinese parent company, ByteDance.
The acquisition bid is part of McCourt’s Project Liberty, an initiative aimed at creating a fairer digital ecosystem by putting users in control of their data.
According to a statement, McCourt emphasized the importance of keeping TikTok accessible to millions of Americans while addressing privacy and algorithmic transparency.
“We’ve put forward a proposal to ByteDance to realize Project Liberty’s vision for a reimagined TikTok—one built on an American-made tech stack that puts people first,” McCourt said.
The proposal involves transferring TikTok’s U.S. user base of approximately 170 million to American-built digital infrastructure.
Project Liberty believes this transition will not only address data security concerns but also ensure the platform operates independently of its current controversial algorithm.
The consortium has reportedly secured financial backing from private equity firms, family offices, and high-net-worth individuals.
Debt financing has also been arranged through one of the largest banks in the United States, giving Project Liberty the financial muscle to close the deal.
While the exact value of the offer has not been disclosed, the organization highlighted its ability to complete such a complex transaction.
