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TikTok CEO quits as company reportedly plans sale to Microsoft, Walmart


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Positivity     36.00%   
   Negativity   64.00%
The New York Times
SOURCE: https://arstechnica.com/tech-policy/2020/08/tiktok-ceo-quits-after-only-three-months-citing-political-environment/
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Summary

"Against this backdrop, and as we expect to reach a resolution very soon, it is with a heavy heart that I wanted to let you all know that I have decided to leave the company." Further ReadingTikTok sues Trump admin., says ban is unconstitutional and politicalMayer praised employees' efforts, saying that "there is no doubt that the future [of TikTok] is incredibly bright." But at the same time, he added, "I understand that the role that I signed up for—including running TikTok globally—will look very different as a result of the US Administration’s action to push for a sell off of the US business."Until this spring, Mayer was one of Disney's top executives, where he successfully headed the launch of the Disney+ streaming service. "We believe a potential relationship with Tik Tok US in partnership with Microsoft could add this key functionality and provide Walmart with an important way for us to reach and serve omnichannel customers as well as grow our third-party marketplace and advertising businesses."Walmart added, "We are confident that a Walmart and Microsoft partnership would meet both the expectations of US Tik Tok users while satisfying the concerns of US government regulators."Sources told CNBC that TikTok is expected to announce a sale "as soon as next week," ahead of Trump's September 15 deadline and that the transaction is expected to be valued at between $20 billion and $30 billion.You must login or create an account to comment.Join the Ars Orbital Transmission mailing list to get weekly updates delivered to your inbox.

As said here by Kate Cox