Microsoft is officially not buying TikTok

Microsoft did not specify what changes to the service it had proposed. However, today’s announcement from Microsoft comes on the heels of a report this weekend from the China Morning Post that ByteDance was unwilling to sell its highly effective algorithm to a US buyer. To keep users hooked on the service, an American buyer would have had to rewrite the underlying code that has been so essential to the service’s success. According to the report, ByteDance informed both US officials and would-be buyers of its decision.

Microsoft’s announcement comes days before a September 15th deadline set by President Trump. Microsoft confirmed in early August that it was considering a purchase of TikTok’s US arm. With Microsoft out of the race, The New York Times reports that Oracle is the only remaining American suitor. The Wall Street Journal is in fact reporting tonight that Oracle has been selected as the winner, though as of this writing this has not been confirmed by ByteDance, Oracle or US officials.

Engadget has asked ByteDance for comment. We will update our story if and when we hear back.

This story is developing…