Billionaire Frank McCourt says he's putting together a consortium to buy TikTok

Billionaire businessman and real estate mogul Frank McCourt says he’s putting together a consortium to purchase TikTok’s U.S. business. The announcement posted Wednesday on the website of McCourt’s Project Liberty initiative adds to the number of investors hoping to benefit from a new federal law that requires TikTok’s China-based parent company to sell the popular platform or face a ban. Other investors, including former Treasury Secretary Steven Mnuchin, have expressed a desire to purchase TikTok. However, TikTok’s parent company ByteDance has already said it's not planning to sell the platform. The Chinese government is unlikely to approve a sale, especially not one with the recommendation engine that powers the videos that populates users’ feeds.