Xbox owner Microsoft is currently in discussions to buy social media giant TikTok.
That’s according to the newly-reinstalled US President Trump, who has now told reporters of Microsoft’s involvement (via Reuters). Microsoft itself has declined to comment.
TikTok’s current status in the US appears precarious, after it was banned by the previous US administration and the US Supreme Court due to national security concerns linked to the app’s Chinese owner ByteDance. Here in Europe, the UK government, BBC and the European Commission have banned the app from use on official phones.
Ahead of returning to office, Trump had signalled he would pause the ban – though TikTok still took itself offline within the US for a brief window, before returning online with a message that thanked Trump personally.
TikTok’s US ban is now officially paused for 75 days, during which time the social media giant and its compulsive algorithm must either be sold or banned for good.
Microsoft is one of a few companies with deep enough pockets to make a serious bid, with various valuations of TikTok ranging around $100bn, and some even higher.
Still, as we well know, Microsoft seemed happy to shell out $67.8bn just a couple of years ago to snap up Call of Duty and World of Warcraft maker Activision Blizzard. What’s $30bn more for control of the hugely-influential TikTok?