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Twitter, TikTok held talks about potential \’combination\’

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Twitter, TikTok held talks about potential ‘combination’.

Twitter and TikTok have held preliminary talks regarding a “potential combination,” according to a report by the Wall Street Journal.

Sources familiar with the matter told the outlet that the deal would involve TikTok’s U.S. operations.

TikTok and Twitter declined to comment.

Twitter would be the latest bidder for the popular video-sharing mobile app. Currently, Microsoft remains TikTok’s highest bidder and announced in a blog post earlier this month that it would continue discussions for a potential purchase of the company.

“Microsoft fully appreciates the importance of addressing the President’s concerns,” the company said. “It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury.”

Ticker Security Last Change Change %
TWTR TWITTER INC. 37.14 -0.55 -1.46%
MSFT MICROSOFT CORP. 212.48 -3.87 -1.79%

TikTok, owned by Chinese firm ByteDance, has been deemed a national security threat by the Trump administration, which argues the company could potentially share users’ data with the Chinese government.

President Trump signed an executive order on Thursday that will ban Tiktok on Sept. 15 unless the company finds a buyer for its U.S. operations.

China has firmly opposed the executive order, with ministry spokesman Wang Wenbin telling reporters on Friday that the U.S. is “using national security as an excuse and using state power to oppress non-American businesses.” Wang added that the move by the U.S. is political, noting that it “will only lose its moral high ground with a damaged image and a deficit of trust.”

Meanwhile, Tiktok has threatened to take legal action against the Trump administration.

“We are shocked by the recent executive order, which was issued without any due process,” TikTok said in a statement. “For nearly a year, we have sought to engage with the U.S. government in good faith to provide a constructive solution to the concerns that have been expressed.”

The company argues the administration “dictated terms of an agreement without going through standard legal processes and tried to insert itself into negotiations between private businesses.”

While it is not immediately clear how much TikTok’s valuation would be, Twitter does not have nearly as much financial power as its competitors. The company reported a loss of $1.2 billion in revenue for the second quarter with about $7.8 billion in cash and short-term investments as of June. In comparison, Microsoft has roughly $136 billion in cash. Twitter’s market cap is more than $29 billion; Microsoft’s market cap is about $1.6 trillion.

Sources have told FOX Business’ Charlie Gasparino that Microsoft has sought outside partners to help finance the massive transaction, which could be valued anywhere from roughly $20 billion to $100 billion.

Twitter argues that due to its size it would face less antitrust scrutiny than larger bidders, like Microsoft, people familiar with the discussions told the Journal.

TikTok has 800 million users worldwide and 100 million in America alone.

Entertainment

Davido: I’ll go to jail for Chioma?Entertainment gist

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Afrobeats superstar Davido has vowed to go to jail for his fiancee and baby mama if need be.

The “Assurance” singer revealed this during an interview with Miyabel on Hot 97.

He stated he would go to jail for Chioma aka Chef chi if she commits a crime for him.

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The duo’s relationship experienced a setback in 2020 after news of him having yet another child with an America model-cum-makeup artiste, Larissa London broke.

But in September 2022, their relationship set sail again as they’ve been seen together at different events loving up on each.

Recently, he officially confirmed that he and his estranged fiancee-cum-baby mama weren’t just back to together but also that they’ll be tying the nuptial knot in 2023.

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Oxlade: Wizkid told me not to copy him? Ent Update

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Singer Ikuforiji Olaitan Abdulrahman aka Oxlade has shared the career-related advice he got from his mentor Wizkid.

He said the Grammy award winner advised him to observe his style of music and figure out a way of being unique without copying him.

Oxlade made this known during an interview on Kiss FM UK.

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He talked about his performance at the 21,000 capacity Accor arena in Paris, France.

The 25-year-old artist explained that Wizkid does not want him to follow the same path he took or to make the same mistakes.

According to him, Wizkid made it possible for him to have his first ever performance at the prestigious O2 Arena in 2018.

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SEVENTEEN Announces Additional Dates And Cities For 2022 World Tour “BE THE SUN”?Entertainment gist

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SEVENTEEN has confirmed additional dates and cities for their Asian tour!

The day after completing their North American tour and the initial last stop for their Asian tour in Singapore on October 13, SEVENTEEN gave a pleasant surprise to their fans by releasing a poster announcing the additional dates of their “BE THE SUN” Asia Tour. According to the poster, they will hold additional performances in Bulacan, the Philippines on December 17 and Jakarta, Indonesia on the December 28.

SEVENTEEN is also scheduled to hold concerts at the Kyocera Dome in Osaka on November 19 and 20, followed by the Tokyo Dome on November 26 to 27, and finally the Vantelin Dome in Nagoya on December 3 and 4.

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soompi top 5 on viki oct the law cafe | SEVENTEEN Announces Additional Dates And Cities For 2022 World Tour “BE THE SUN” | The Paradise News

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