Microsoft in advanced talks to buy TikTok's US business

Posted at 6:32 PM, Aug 01, 2020

NEW YORK (AP) — 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.