TikTok parent company denies plans to sell social media platform

(CNN) – TikTok’s Chinese parent company said it won’t sell the social media platform as a United States ban looms.

On Thursday, ByteDance denied plans to sell after reports surfaced it was exploring the sale of TikTok’s U.S. business without the algorithm that recommends videos to users.

This is the first official response from the Beijing-based company on the issue since President Joe Biden signed a bill that could lead to a nationwide ban.

Under the current U.S. law, TikTok is now forced to find a new owner within months or be banned from the United States entirely.

TikTok’s CEO said the company said the company would fight in the courts to stay online in the U.S.

So far, a number of countries have banned officials from downloading TiKTok onto their phones, but the U.S. law is one of the most sweeping measures taken so far.

India banned TikTok entirely in 2020.