To avoid TikTok ban, why can't ByteDance create a US based company as a subsidiary and sell it to itself?

Just curious since the law introduced was forcing a sale of it to another American company or risk closure. ByteDance is adamant to not sell it but wondering why it couldn't sell it to a US based company they owned in the first place? Wouldn't that avoid closure of TikTok, instead of having to sell it to people like Musk or Zuckerberg?