Microsoft announced on Sunday that the Chinese company ByteDance rejected its offer to purchase TikTok's U.S. operations.
In early August, President Trump issued an executive order saying TikTok, a popular video-sharing app, was a national security risk, and ByteDance had until mid-September to sell off its U.S. operations or the app would be banned. A person with knowledge of the matter told The Associated Press ByteDance chose Oracle, the only other publicly known bidder, to buy the app. Oracle has close ties to Trump, with Larry Ellison, its co-founder and chairman, a supporter who has hosted a fundraiser for the president.
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