Real Estate Mogul Frank McCourt Readying US TikTok Bid (2)

Frank McCourt, a real estate mogul with ambitions to improve the web, said he plans to build a consortium to bid for social media app TikTok’s US business.

McCourt, a former owner of the Los Angeles Dodgers and executive chairman of investment firm McCourt Global, is an unlikely contender for the ByteDance Ltd.-owned app. TikTok’s US assets were valued at $35 billion to $40 billion by Bloomberg Intelligence analysts.

President Joe Biden’s decision to force TikTok’s Chinese parent to sell the US app or face a ban, via a law signed this year as part of ...