US billionaire businessman Frank McCourt is crafting a fundamental overhaul of TikTok’s business model as part of a plan to bid for the Chinese-owned short-form video app, he told Reuters. McCourt, who formerly owned the Los Angeles Dodgers baseball team,

American billionaire Frank McCourt is preparing to bid for the Chinese-owned short-form video platform TikTok by radically altering its economic strategy, according to Reuters. TakeAway Points: U.S. billionaire businessman Frank McCourt is crafting a fundamental overhaul of TikTok’s business model as part of a plan to bid for the Chinese-owned short-form video app.

Frank McCourt says his bid for TikTok is part of a broader mission to move millions of people to healthier online platforms. “I compare this to large-scale, human physical migration.”

Frank McCourt, a billionaire who wants to buy TikTok, told BI that the details of a potential sale of the app are made murky by ByteDance's secrecy.

Former Los Angeles Dodgers owner Frank McCourt has been talking about buying TikTok since earlier this year. The long shot is getting shorter.

Billionaire Frank McCourt told Yahoo Finance he is still interested in acquiring TikTok if it isn't able to overturn a federal law that demands the Chinese-owned social media app be sold to a US buyer.

So far, ByteDance has shown zero willingness to spin off TikTok in the US. The Chinese parent company seems to be banking on the Supreme Court or President-elect Donald Trump rescuing the app before it’s banned next month.

Even as TikTok faces a looming ban in the US, Chinese parent company ByteDance Ltd. has made it clear it has no plans to sell the popular video app. Frank McCourt doesn’t seem deterred.

Congressional lawmakers told Apple and Google to be ready to remove TikTok from U.S. app stores on Jan. 19. The app is used by 170 million Americans and lawmakers argue the Chinese government’s relationship with TikTok's parent company threatens data privacy and national security.

Business executive Frank McCourt, executive chairman of McCourt Global and founder ... working very hard to position itself as a possible buyer for the U.S. portion of TikTok. A panel of federal judges in Washington, D.C. last week upheld a new law that ...

TikTok is slated to be banned from app stores on Jan. 19. The platform's survival in the United States could depend on whether Trump intervenes.

The future of social media platform TikTok hangs in the balance. Will it be banned in the US? Will someone be able to buy the platform and work on adding safeguards that please lawmakers? The outcome of the platform is important to the millions of creators who rely on its powerful algorithm to earn income.