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Microsoft in advanced talks to buy TikTok's US business

Trump tells reporters he will ban TikTok in US
Posted at 3:28 PM, Aug 01, 2020
and last updated 2020-08-01 15:28:46-04

NEW YORK -- Microsoft is in advanced talks to buy the US operations of TikTok, the popular Chinese owned video app that has been a source of national security and censorship concerns.

A person familiar with the discussions who declined to be named because of sensitivity to the negotiations confirmed Microsoft is close to a deal.

The acquisition would be a victory for both companies.

It would make Microsoft a major rival in the social media arena and provide relief to TikTok and its parent company, Bytedance, a target of President Donald Trump's.

Trump said Friday that he will take action as soon as Saturday to ban TikTok.

Microsoft declined to comment on the potential deal.