ByteDance has selected Oracle as its partner for a deal to keep TikTok operating in the U.S., a source familiar with the talks confirms to The Hollywood Reporter.
The decision comes as ByteDance has rejected a bid by Microsoft that earlier this summer was seen as the likely option for the company as it looked to avoid a shutdown of the popular social media app amid increased tensions between the U.S.
and China. Microsoft confirmed that its bid had been rejected in a statement on its corporate blog on Sunday night. "We are confident our proposal would have been good for TikTok's users, while protecting national security interests," the company wrote. "To do this, we would have made significant changes to ensure the service met the highest.
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