TikTok reportedly 'likely' to miss deadline for sale but could get more time

TikTok's owners reportedly aren't likely to sell the app's U.S. operations prior to the deadline set by President Trump — but they may end up getting more time to do so.

ByteDance is "likely to miss" the Trump administration's upcoming deadline to sell TikTok's U.S. operations, but the administration is "considering whether to give more time" to the company, Bloomberg reported on Thursday. Trump reportedly hasn't yet been presented with the decision.

Trump previously said he would ban the Chinese-owned TikTok in the United States due to national security concerns unless its U.S. operations were sold to an American company; in August, he threatened to shut TikTok down in the U.S. unless a deal is reached by Sept. 15. But Bloomberg notes there's some confusion about what the actual deadline is, considering a ban Trump signed sets a deadline of Sept. 20, and another order he issued suggests a deadline of beyond Nov. 3.

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TikTok has been in negotiations with Microsoft and Oracle, but according to Bloomberg, "new Chinese regulations complicated negotiations," with Chinese officials telling ByteDance they must submit information for approval that will take time to review. Bloomberg also reports it's still possible that ByteDance "pulls out of a sale altogether," and earlier this week, The Wall Street Journal reported that ByteDance was discussing with U.S. officials ways to "avoid a full sale."