Blackstone Exits Investor Group Pursuing TikTok’s US Operations

Private-equity firm Blackstone has withdrawn from the consortium negotiating to buy control of TikTok’s U.S. business, according to a person familiar with the talks. The investor group—led by existing ByteDance backers Susquehanna International Group and General Atlantic—had positioned itself to acquire roughly 80% of the video-sharing app, leaving Chinese parent ByteDance with a minority stake. Blackstone’s exit deepens uncertainty around a transaction that has repeatedly slipped past government deadlines. Former President Donald Trump has granted three extensions, most recently moving the divestiture cutoff to 17 September, while a law passed in April 2024 requires TikTok to be sold or shut down in the United States by 19 January 2025. The deal has also become entangled in broader U.S.–China trade negotiations, with Beijing signaling resistance to a forced sale following Washington’s imposition of steep tariffs on Chinese goods. The consortium still includes KKR, Andreessen Horowitz and likely Oracle, but it remains unclear whether the remaining members will alter their bid or whether rival suitors will emerge. TikTok is developing a U.S.-specific version of the app as it explores restructuring options to address national-security concerns over data handling and Chinese ownership.