Microsoft in advanced talks to buy TikTok's US business

Microsoft is in advanced talks to buy the U.S. operations of TikTok, the popular Chinese-owned video app that has been a source of national security and censorship concerns, according to a person familiar with the discussions who spoke only on condition of anonymity because of the sensitivity to the negotiations.

The potential deal would be a victory for both companies, making Microsoft Corp. a major player in the social media arena and providing relief to TikTok and its parent company, Bytedance Ltd., a target of President Donald Trump's.
Trump said on July 31 that he would take action as soon as Aug. 1 to ban TikTok in the United States.

Trump's comments on July 31 aboard Air Force One came after published reports that the administration is planning to order China's ByteDance to sell TikTok.

"As far as TikTok is concerned, we're banning them from the United States,'' Trump told reporters on July 31 on Air Force One as he returned from Florida.

Trump said he could use emergency economic powers or an executive order to enforce the action, insisting, "I have that authority.'' He added, "It's going to be signed tomorrow.''
Microsoft declined to comment.

Reports by Bloomberg News and the Wall Street Journal citing anonymous sources said the administration could soon announce a decision ordering ByteDance to divest its ownership in TikTok.

There have been reports of U.S. tech giants and financial firms being interested in buying or investing in TikTok as the Trump administration sets its sights on the app. The New York Times and Fox Business, citing an unidentified source, first reported on July 31 that Microsoft is in talks to buy TikTok.

TikTok issued a statement on July 31 saying that, "While we do not...