NEW YORK: TikTok on Tuesday labeled as “pure fiction” a report that China is exploring a potential sale of the video-sharing platform’s US operations to billionaire Elon Musk as the firm faces an American law requiring imminent Chinese divestment.
Citing anonymous people familiar with the matter, Bloomberg News had earlier reported that Chinese officials were considering selling the company’s US operations to Musk’s social media platform X.
The report outlined one scenario being discussed in Beijing where X would purchase TikTok from Chinese owner ByteDance and combine it with the platform formerly known as Twitter.
“We cannot be expected to comment on pure fiction,” a TikTok spokesperson told AFP.
The report estimated the value of TikTok’s US operations at between $40 billion and $50 billion.
Although Musk is currently ranked as the world’s wealthiest person, Bloomberg said it was not clear how Musk could execute the transaction, or if he would need to sell other assets.
The US Congress passed a law last year that requires ByteDance to either sell its wildly popular platform or shut it down. It goes into effect on Sunday — a day before President-elect Donald Trump takes office.
The US government alleges TikTok allows Beijing to collect data and spy on users and is a conduit to spread propaganda. China and ByteDance strongly deny the claims.
TikTok has challenged the law, taking an appeal all the way to the US Supreme Court, which heard oral arguments on Friday.
At the hearing, a majority of the conservative and liberal justices on the nine-member bench appeared skeptical of arguments by a lawyer for TikTok that forcing a sale was a violation of First Amendment free speech rights.
Bloomberg characterized Beijing’s consideration of a possible Musk transaction as “still preliminary,” noting that Chinese officials have yet to reach a consensus on how to proceed.
Musk is a close ally of Trump and is expected to play an influential role in Washington in the coming four years.
He also runs electric car company Tesla, which has a major factory in China and counts the country as one of the automaker’s biggest markets.
Trump has repeatedly threatened to enact new tariffs on Chinese goods, which would expand a trade war begun in his first term and which was largely upheld, and in some cases supplemented, by outgoing President Joe Biden.
TikTok calls report of possible sale to Musk’s X ‘pure fiction’
https://arab.news/99cgt
TikTok calls report of possible sale to Musk’s X ‘pure fiction’
- Rumors circulated Monday that TikTok’s owner, ByteDance, is considering selling the platform’s US operations to Elon Musk’s social media platform, X
- Congress legislation could force TikTok to divest its US operations, requiring its parent company, ByteDance, to either sell the platform or shut it down
Shahid, Disney+ and OSN+ launch exclusive streaming bundle across GCC
- Bundle available exclusively visa Shahid for $25 a month
RIYADH: In a landmark regional collaboration, Shahid, Disney+, and OSN+ have announced an exclusive streaming bundle that brings together world-class hits from the three platforms under a single subscription in a first-of-its-kind offer for audiences in the Gulf Cooperation Council countries.
The all-in-one entertainment package, available only through Shahid in the GCC for about $25 a month, grants subscribers full access to three leading platforms covering Hollywood blockbusters, Disney+’s expansive range of beloved films, animations and series, OSN+’s library of HBO originals and international hits, and Shahid’s Arabic premium content.
The bundle is designed to simplify subscription management with a unified payment model, allowing viewers to access all three apps at the price of two and offering a streamlined user experience.
Natasha Matos-Hemingway, chief commercial and marketing officer at Shahid, said the partnership reflects a broader effort to expand digital entertainment offerings in the Middle East, catering to a growing audience seeking diversity, convenience and high-quality programming.
“We are proud to collaborate with OSN+ and Disney+ to offer an unmatched streaming experience to our subscribers,” she said. “With one subscription, one payment, and full access to premium content from all three platforms, we’re delivering unbeatable convenience, value and entertainment.”
With a growing demand for high-quality on-demand content, the bundle is expected to attract a wide range of users seeking comprehensive entertainment without juggling multiple subscriptions.
The move also signals increasing cooperation between global media giants and regional platforms, in a bid to meet the entertainment preferences of Arab audiences while expanding market reach.
Karl Holmes, SVP and general manager at Disney+ EMEA, said the collaboration will bring award-winning series like FX’s “Shogun” and favorites such as “Lilo & Stitch” into a unique bundle with Shahid’s regional hits including “Al Dariya.”
The agreement “reflects a shared ambition between Disney+ and Shahid to shape the future of entertainment in the Middle East,” said Holmes. “The Middle East is young, dynamic and fast-growing, and we’re delighted to give consumers a new and easy way to access extraordinary content at exceptional value.”
Choucri Khairallah, chief business officer at OSN+, said the partnership takes OSN+’s entertainment experience “to the next level.”
He added: “Today’s audiences expect more than great content; they seek seamless access, variety and exceptional value. This all-in-one bundle delivers exactly that.”
