A Wyoming-based investor remains hopeful about keeping TikTok operational in the US following the latest delay in the app’s potential ban, Q2 Montana’s News Leader Billings reports.
President Donald Trump announced on February 19 a further extension on action against the Chinese-owned platform, giving more time for US buyers to negotiate with TikTok’s parent company, ByteDance.
Among the leading contenders for a potential acquisition is Rasner Media, a company founded by Wyoming investor Reid Rasner, who is also the CEO of Omnivest Financial. Rasner’s firm has reportedly made a $47.45 billion offer to acquire TikTok and claims to be at the forefront of ongoing negotiations.
“We’re ready to sign the deal today,” Rasner said, expressing urgency and confidence in his bid.
He emphasized that Rasner Media is the only bidder requesting ownership of TikTok’s algorithm—arguably the app’s most valuable asset—citing national security and digital privacy concerns.
“They are going to continue to use your data if you’re on TikTok, against you in very nefarious ways,” Rasner said. “Our digital sovereignty is truly at stake.”
Rasner Media has formed partnerships with Goodwin Proctor LLP, a major law firm with expertise in mergers and acquisitions, and Adaly, a technology and media company. Michael Kendall, a Goodwin Proctor partner, confirmed the group’s direct communication with the White House and stressed the broader national security concerns.
“Most Americans are worried about state actors outside the US having various levels of access in the United States,” Kendall said. “This is just one example of that. If we can play a part in shoring up our digital defenses, that would be terrific.”
The bid comes amid growing scrutiny of TikTok’s ties to the Chinese government. Gordon G. Chang, a senior fellow at the Gatestone Institute and China policy commentator, recently spoke about his concerns, alleging the Chinese Communist Party uses TikTok’s algorithm to promote its narratives and undermine US interests.
Rasner, for his part, has proposed placing TikTok’s headquarters in Wyoming, with some operational components potentially located in neighboring Montana. He has also engaged with state leaders, including South Dakota Governor Larry Rhoden, as he advocates for support from intermountain west states.
“We would love to see Montana join the fight here in these inner mountain west states and start leading the way,” Rasner said.
He also pointed to TikTok’s importance to the US economy.
“There are 7.5 million small businesses currently using TikTok,” he noted. “It’s something a lot of people rely on to put food on the table at the end of the day, so we need to protect that.”
While interest in acquiring TikTok has also been reported from high-profile figures like Kevin O’Leary of Shark Tank and YouTube personality MrBeast, Rasner’s group is unique in its legal strategy and insistence on acquiring the platform’s full technology stack.
“The president has sole discretion to approve a transaction,” said Kendall. “At the end of the day, it’s going to be whichever deal he thinks is best for the country.”
Rasner says his team has been engaged with ByteDance for several months and is waiting on final approval from Chinese authorities to move forward.
“As soon as China allows them to sell and the CCP signs off on it,” he said, “I think we have a deal.”
