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TikTok CEO Kevin Mayer resigns – less than three months in office



TikTok CEO Kevin Mayer resigns - less than three months in office

Against the backdrop of a possible ban on TikTok in the United States, The New York Times issued an investigation, where it reported that the amount of the transaction with buyers varies from 20 to 50 billion dollars.

The resignation of Kevin Meyer from a leadership position was first reported by the Financial Times, and later TikTok representatives confirmed the information to The Verge.

Mayer explained his departure by a sharp change in the political situation, saying that he was seriously thinking about the corporate structural changes that may now be required.

Mayer took over as head of TikTok on June 1. Prior to that, he served as Head of Streaming at Disney and, among other things, oversaw the development and launch of Disney + and ESPN + services, and the integration of Hulu.

Mayer’s departure became known against the background of a possible ban on TikTok in the United States, which Donald Trump announced on July 31, noting that “the blocking will occur immediately.” Microsoft has expressed its interest in acquiring TikTok.

Later, the decision to block TikTok was postponed to September 15, provided that no one buys the service. Against this backdrop, Trump signed a decree banning transactions with the owners of WeChat and TikTok in the United States, effective September 20.

On August 26, The New York Times released a large investigation into the situation surrounding TikTok and its possible blocking in the United States. According to the publication, the United States began to carefully study TikTok back in 2019 amid deteriorating relations between the United States and China. ByteDance, which owns TikTok, consulted with its American investors in an effort to ease the pressure on itself.

According to the NYT, the Trump administration originally proposed to reduce ByteDance’s share of TikTok, as well as to ensure that the data of American users of the service will be stored in the United States.

The investigation also talks about how Microsoft got involved in the negotiations and the possible deal. Amid external pressure, ByteDance began looking for a major technology partner in the United States, but it found Facebook, Amazon, and Google unsuitable, as these companies are under scrutiny due to antitrust violations.

The most suitable option was Microsoft, which had cloud expertise, strong government ties, and “$ 137 billion in cash reserves.”

The NYT also said that in addition to Microsoft, Oracle, the largest enterprise software company, is considered the main contender for the purchase of TikTok. The publication noted that Twitter and Netflix are also mentioned among other buyers, but whether these companies are actually ready for the deal is not yet clear.

Finally, The New York Times named the approximate amount of the transaction – from 20 to 50 billion dollars. The exact price is not yet known and it will depend on the options for selling TikTok – from business only in North America or the entire service, except for the TikTok version for China. It is not yet known whether the parties will conclude any deal.

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