ByteDance Declares No Plans to Sell TikTok Despite New U.S. Law

ByteDance Would Rather Shut Down TikTok Than Sell, Sources Say.

TikTok CEO Chew Shou Zi testifies before the House Energy and Commerce Committee on Mar 23, 2023, in Washington, DC. (Photo: AFP/Chip Somodevilla/Getty Images)

Section I: The New Law and ByteDance's Response

After President Biden signed a bill into law that could potentially ban TikTok in the U.S., ByteDance, the platform's Beijing-based parent company, p…