TikTok is nearing a deal to sell its U.S. operations and could announce a deal in the coming days, according to people familiar with the matter, CNBC reports,Kevin Mayer, TikTok’s chief executive, announced his resignation Thursday after news of the announcement leaked to the Financial Times. Mayer joined TikTok earlier this year after running Disney’s streaming video operations. TikTok hasn’t decided on a buyer and is still discussing bids from Oracle and Microsoft and a third U.S. company, two of the people said. Spokespeople for TikTok and SoftBank declined to comment. TikTok is likely to sell its U.S., Canadian, Australian and New Zealand operations for a valuation in the US$20 billion to US$30 billion range, but a price still hasn’t been decided, the people said.

Source: The Standard August 27, 2020 14:15 UTC