Schmidt Says He Weighed Buying TikTok From Its Chinese Owner (1)

Eric Schmidt, the former chief executive officer of Google, said he had explored a possible purchase of TikTok but has moved on from the idea of trying to acquire the popular video-sharing app from its Chinese owners.

A new federal law requires TikTok to be sold by its parent, ByteDance Ltd., within a year or face a ban in the US. Schmidt, who ran Alphabet Inc.’s Google for over a decade, confirmed on Tuesday that he at one point considered purchasing the platform — though he added that it’s no longer on the table.

WATCH: Eric Schmidt says he considered buying TikTok.

Source: Bloomberg

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