Microsoft is officially out of the running to buy TikTok’s U.S. operations. In a blog post published Sunday, Microsoft said that Bytedance, the video-sharing platform’s parent company, had informed them that they would not be purchasing the U.S. operation.
Microsoft Out, Oracle Takes Lead in Race For TikTok
The short update from Microsoft said:
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.
Axios reported that Oracle is now the most likely buyer. Various deals have been mooted ever since U.S. President Donald Trump said that he would shut down the service in the U.S. if ByteDance reamin in control of its operations in the country.