The Trump-imposed deadline for the sale of social media company TikTok’s operations in the United States is drawing ever closer, and it would appear that Microsoft will NOT be the new owner.
According to an update from the software giant, ByteDance has turned down Microsoft’s proposal to acquire TikTok before September 15th. After that date, Trump claimed he would “ban the company” in the USA if it did not secure an American buyer.
ByteDance let us know today they would not be selling TikTok’s US operations to Microsoft. We are confident our proposal would have been good for TikTok’s users, while protecting national security interests. To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety, and combatting disinformation, and we made these principles clear in our August statement. We look forward to seeing how the service evolves in these important areas.
According to multiple reports citing “sources close to the situation,” Oracle reportedly is who will be taking over TikTok in the USA.
There has been no comment from either ByteDance or Oracle at the time of this writing.
This story is developing…