Quantcast

TIKTOK, WECHAT BANS IMMINENT IN U.S. (UPDATE)

UPDATE: Ahead of Sunday's removal from app stores, barring any American from downloading the app, TikTok has issued a statement on their disappointment in the U.S. officials' decision. The app is currently #1 on Apple's App Store. 

Business transactions and downloads of TikTok and WeChat will be banned come Sunday by the Commerce Department.While announcing the ban on Friday, President Trump is expected to make a statement on whether Oracle’s deal for TikTok will get the government’s OK.

Currently, Oracle and Walmart are working on a plan to create an ownership structure that would give the U.S. companies a majority stake in the popular app, according to a Wall Street Journal report. In the plan, an IPO for TikTok would be filed in about a year, according to the Journal report.

The government ban means the apps would be removed from online stores and U.S. companies could not use the services of either Bytedance-owned app come Sunday night.

The Commerce Department also set 11/12 as a date whereby U.S. companies would be blocked from providing Internet hosting and services for TikTok. If nothing else, that gives TikTok and Oracle nearly two months to iron out a deal.

Commerce Secretary Wilbur Ross said in an interview on Fox Business Network  that the ban would initially impact WeChat and TikTok will be allowed to function until 11/12. “The only real change as of Sunday night will be users won’t have access to improved updated apps, upgraded apps or maintenance,” Ross said.

There are also rumors of ByteDance's search for a new CEO in light of Kevin Mayer's abrupt exit. Instagram founder and former CEO Kevin Systrom is supposedly being considered for the gig. 

How will the kids respond to all this? We have some idea.

REVENUE CHART:
RAINING CATS & DOGS
Starring Doja Cat, Nipper and Ms. Larry David (5/13a)
RECORDING ACADEMY LOCKS IN HARVEY MASON JR. AS CEO
Meet the new boss, same as the old boss. (5/14a)
TIME TRAVELING
WITH CLIVE (UPDATE)
Beam us up, Uncle Clive. (5/13a)
ROCK HALL INDUCTEES:
NEW & OVERDUE
Todd gets in. Finally. (5/13a)
KG's HOT ALT SUMMER
She also reviews the best outdoor Bluetooth speakers. (5/13a)
RHYTHM, BLUES AND THE FUTURE
The musical tapestry we know as R&B.
WHO'S NEXT?
Predicting the next big catalog deal.
JUST THE VAX, MA'AM
Once we all get vaccinated, how long before we can party?
WORLDWIDE GROOVE
How is globalization bringing far-flung territories into the musical mainstream?
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)