Private equity is coming for mom-and-pop businesses, but one industry group is fighting back.

Nexstar Network, a member-owned organization that supports contractors in the residential service industry, decided to cut ties with every private-equity backed firm—amounting to about one-third of its membership.

The move will cost Nexstar roughly half of its revenue, but president and CEO Julian Scadden is betting that its members value independence over selling out. Whether that’s true remains to be seen.

President Donald Trump pushed back a potential shutdown of TikTok to December 16, shortly after telling reporters he reached a deal with Chinese officials on the popular app. It’s the fourth such extension since January, and Tuesday’s executive order will allow for more time to finalize the sale.

MORE: Sources say the deal involves a group, led by Larry Ellison’s Oracle, private equity firm Silver Lake and Marc Andreessen’s venture capital firm, taking a controlling stake in a new U.S. company that will operate TikTok, the Wall Street Journal reported. The U.S. investors will hold 80%, with Chinese shareholders owning the remaining shares, and Oracle will control user data at its facilities in Texas.

Ben & Jerry's co-founder Jerry Greenfield

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