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Perplexity AI revises Tiktok merger proposal that could give the U.S. government a 50% stake
A proposal document viewed by CNBC, which was shared with ByteDance and prospective new investors, detailed the creation of a new U.S. holding company, "NewCo."
The proposed new structure would allow for most of ByteDance's existing investors to retain their equity stakes and would bring more video to Perplexity, a source familiar with the situation told CNBC earlier this month. And although ByteDance has publicly implied it will not sell TikTok U.S., that's part of why Perplexity AI believes it has a shot with its bid — since the deal would be a merger rather than a sale, the source added. Though any potential transaction between Perplexity AI and ByteDance would likely take months to complete, President Donald Trump has so far temporarily restored TikTok in the U.S. and suggested plans that would involve an American stakeholder purchasing the company and then selling a 50% stake to the U.S. government.
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