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A Deal Between TikTok and U.S.-Based Oracle Will Need Beijing's Approval, the App's Owner ByteDance Said
ByteDance wants to keep its share of the video app as part of the deal, but President Donald Trump told a press briefing Wednesday he was "not prepared to sign off" on it.
'ByteDance let us know today they would not be selling TikTok's U.S. operations to Microsoft,' the company says. Several reports indicate that Oracle has secured the winning bid.
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Marc Benioff Reached Millionaire Status by Age 25 -- and 9 Other Things to Know About the Co-Founder of Salesforce
On Sunday, Benioff and his wife Lynne announced their $190 million purchase of Time magazine from Meredith Corp.
Oracle said it would appeal the verdict.
Safra Catz told jurors that the point of the acquisition was to protect its products that relied on Sun's software.
Oracle claims Google's Android smartphone operating system violated its copyright on parts of the Java programming language, while Alphabet Inc.'s Google says it should be able to use Java without paying a fee under the fair-use provision of copyright law.
After a deadlocked jury in 2012, the companies failed to reach an agreement at a settlement conference last week.