TikTok and its China-based parent company ByteDance have spent more than $7 million this year in a bid to derail US legislation that would see the social media app banned in the United States, CNBC reported.
The US Senate approved a landmark bill on Tuesday that gives the Chinese video-sharing app’s owner nine months to sell its stake or the app will be blocked in the United States. The bill will now be handed over to US President Joe Biden, who has said he will sign it into law as soon as it reaches his desk.
ByteDance alone spent a record $2.68 million on in-house TikTok lobbyists to target Congress and federal officials over the first three months of the year, according to new lobbying disclosure reports, the story went on. TikTok spent over $4.5 million this year on a television and digital ad campaign attacking the legislation, according to data from AdImpact.
- By Sean O’Meara
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