Bytedance, the parent company of TikTok, was granted another 7-day extension from the U.S. Treasury on Wednesday afternoon to divest from its American assets. TikTok was given a two-week extension earlier this month to have its divestment plan approved by the Committee on Foreign Investment in the United States, but that was set to expire on Friday.
Auction Payments Coming In Next Few Days
The FCC has directed the U.S. Department of Treasury to pay all broadcasters who had winning bids in the recently concluded spectrum incentive auction. The only exceptions are those broadcasters that failed to submit sufficient banking information to the FCC for payment to be made. Since the FCC does not control the actual release of funds, it indicates it will deem the amounts as paid five business days from the release of yesterday’s Public Notice (i.e, July 27). Any broadcaster expecting to be paid that is not listed in the attachment to the Public Notice will want to promptly fix any issues with its banking information so that it too can receive payment.
The FCC today announced it is ready to pay winners in the reverse auction to clear 600 MHz spectrum. According to a public notice issued by the agency this afternoon, commission staff has directed the U.S. Treasury to make payments to the stations. Those stations are the auction winners that have provided the government with the banking information it needs to make payment.
