A Project Liberty spokesperson said the group was not disclosing the financial terms of the offer but confirmed that ByteDance has received the proposal. CNBC has reached out to TikTok for comment.

Frank McCourt, founder of Project Liberty and executive chairman of McCourt Global, announced last week that he is building a group of associates to purchase TikTok in order to prevent a ban of ...

Project Liberty, an organization led by billionaire Frank McCourt, has made an offer to ByteDance to purchase TikTok's U.S. assets.

Project Liberty has submitted a bid to buy TikTok from ByteDance ahead of its Jan. 19 ban. The proposed sale would place the social media site under U.S. ownership. The Supreme Court will hear ...