The internet advocacy group's proposed purchase would bring TikTok under American ownership and prevent it from being banned in the U.S.

A group formed by billionaire entrepreneur and former Los Angeles Dodgers owner Frank McCourt has made a formal offer to buy TikTok from its China-based parent company, ByteDance.

Frank McCourt’s Project Liberty consortium has proposed to buy TikTok’s US assets, securing financial backing for the deal.

Entrepreneur and former Los Angeles Dodgers owner Frank McCourt's Project Liberty and its consortium of partners in The People's Bid said on Thursday they proposed to make a formal bid to ByteDance to buy TikTok's U.

As TikTok inches closer to a ban in the US, billionaire Frank McCourt's non-profit organization - 'Project Liberty,' along with a group called

Project Liberty, an internet advocacy group led by Frank McCourt, declared on Thursday that it had offered to purchase the social networking platform from ByteDance, a Chinese technology company. TakeAway Points: An offer has been made by Project Liberty to purchase TikTok from ByteDance prior to its prohibition9.

McCourt's Project Liberty proposes a bid for the US operations of TikTok. McCourt's Project Liberty Proposes Bid

With the future of TikTok’s ownership hanging in the balance, two uber-rich, politically connected investors are lying in wait, hoping to snag the app if it’s ultimately put on the market.

Entrepreneur and former Los Angeles Dodgers owner Frank McCourt’s Project Liberty and its consortium of partners in The People’s Bid said today they proposed to make a formal bid to ByteDance to buy TikTok’s U.