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Ex-Activision Blizzard CEO, Bobby Kotick, intends to purchase TikTok and has put forth the idea to Sam Altman
Specific US entrepreneurs, particularly Bobby Kotick, who previously headed Activision Blizzard, are gearing up to acquire TikTok from ByteDance if the Chinese firm seeks interested purchasers. This is happening at a time when American legislators are contemplating either prohibiting the application or compelling ByteDance to divest it.
Bobby Kotick, the ex-chief executive officer of Activision Blizzard who resigned last year, appears to be considering a purchase of TikTok. This is concurrent with the introduction of a new U.S. legislation that risks either prohibiting the app or forcing it to sell.
According to The Wall Street Journal, Kotick had a conversation about potentially purchasing TikTok in collaboration with Sam Altman, who leads OpenAI, and others during a recent dinner. He also brought up the idea with Zhang Yiming, the leader of ByteDance that owns TikTok. The report suggests that if TikTok were to be sold, the sale price could potentially reach into the hundreds of billions of dollars.
Kotick was at the helm of Activision for over three decades.
Kotick's rumored curiosity about TikTok is occurring during a shaky period for the popular social network, as it faces a possible prohibition in the US, one of its biggest markets beyond China. US legislators have recently proposed the "Protecting Americans from Foreign Adversary Controlled Applications Act", which could simplify the process for them to either outlaw TikTok or disassociate it from ByteDance.
President Biden has expressed that he will sanction the bill if it is approved. This suggested legislation, set for a House vote on Wednesday, would command that ByteDance, the Chinese parent company of TikTok, sell the app to a US-based firm, or an ally, within half a year if it plans to keep its operations in the country.
If this is not done, TikTok could be taken off from the US app markets.
In light of the rapidly advancing legal measures, TikTok has been appealing to its vast user base in the US for support. The application distributed notifications last week, encouraging users to reach out to their representatives.
It is anticipated that the bill will be approved in the House vote, particularly since it was unanimously endorsed by the Energy and Commerce Committee a week ago. If the House gives the green light, the bill will subsequently proceed to the Senate for additional review.
Legislators are worried about TikTok's data protection and its connection to China. Yet, The Wall Street Journal alludes to potential issues arising if Sam Altman were to be implicated in a possible acquisition. This could potentially lead to OpenAI utilizing TikTok to train its AI models, a scenario that may not be favorable for users.
(Incorporating information from various sources)
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