TikTok sale reportedly could be imminent after CEO's surprise resignation

Following TikTok CEO Kevin Mayer's surprise departure, a sale of the company's U.S. operations could reportedly be days away.

Mayer unexpectedly announced this week he would be stepping down as TikTok CEO just three months after being hired, a decision that came as President Trump threatens to ban the Chinese-owned app due to security concerns unless it's sold to an American company. CNBC's Julia Boorstin reported on Thursday that Mayer's resignation indicates "that we're likely to see a deal" with Microsoft or Oracle possibly "in the next 48 hours or so," while separately, a CNBC online report said TikTok is "nearing a deal to sell its U.S. operations" that may be announced "in the coming days."

In fact, Mayer's departure, according to this CNBC report, was intended to be announced alongside the sale, but it was moved up after news of his exit leaked.

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As far as why Mayer decided to depart TikTok, he told employees that "as the political environment has sharply changed, I have done significant reflection on what the corporate structural changes will require, and what it means for the global role I signed up for." But Boorstin also reports that "one reason" he announced his exit is that he was "excluded" from the talks with Microsoft and Oracle, and he also reportedly "wanted to run a large, powerful company and not be running a division that was part of a large tech company" like Microsoft.

Mayer headed digital streaming at Disney prior to joining TikTok, and he was previously passed over for the position of Disney CEO after Bob Iger's resignation earlier this year.