Microsoft TikTok purchase could happen within next 48 hours

Update, August 27 (eleven:thirty am ET): According to a follow-upward CNBC report, Walmart has confirmed it is "teaming up with Microsoft" in its bid for TikTok.

Onetime TikTok CEO Kevin Mayer stepped down from his part at the company before today. Now, it's reported that i reason Mayer resigned was that he was excluded from talks regarding potential deals to sell TikTok to Microsoft or Oracle. CNBC's Julie Boorstin also reports that a sale of TikTok could come inside the next 48 hours, likely to Microsoft.

Mayer only joined TikTok in May, and reportedly the reason he was left out of discussions was that TikTok and ByteDance had relationships with Microsoft that predated Mayer's arrival. That relationship was built every bit TikTok spoke with Microsoft about potentially switching its deject service provider from Google to Microsoft'southward Azure.

BREAKING: TikTok CEO Kevin Mayer quit afterward beingness excluded from deal talks between the company and Microsoft & Oracle, a source tells @JBoorstin. Multiple sources also tell CNBC that Mayer's exit indicates that a deal—probable a auction to Microsoft—could come in the next 48 hours. pic.twitter.com/TOcSrn8Xd8
— CNBC Now (@CNBCnow) Baronial 27, 2022

CNBC besides reports that Mayer wanted to run a large, powerful visitor rather than run a sectionalization that's part of a large tech visitor. Mayer would have reportedly stayed if a group of investors purchased TikTok rather than one large company.

Considering Mayer'due south deviation would not have occurred if a group of investors purchased TikTok, the fact that Mayer left indicates that TikTok will be sold to a single company. CNBC reports that "we're likely to come across a deal with a Microsoft or an Oracle, more likely Microsoft." Boorstin concludes by calculation that the "bargain could come up in the next 48 hours or so."

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