As TikTok faces a potential ban, various bidders, including Elon Musk and Larry Ellison, are key contenders to buy the platform. Meanwhile, Netflix remains a possible option among streaming giants, though the company has not historically pursued major acquisitions.

The app, which was set to be banned, now has a bit more time to find a home and address national security issues

In order to avoid a potential ban in the United States, Chinese officials are considering a contingency plan that would involve selling TikTok's US operations to Elon Musk, said a Bloomberg report. The report further said that the first preference of the Chinese officials will be to keep the short-form video hosting platform under the control of parent company ByteDance,