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Ex-chief of Activision Blizzard aims to purchase TikTok, presents the idea to Sam Altman
Bobby Kotick, previous head of Activision Blizzard, is among the U.S. entrepreneurs gearing up to acquire TikTok if ByteDance decides to sell. This is happening while U.S. legislators are contemplating whether to prohibit the app or compel ByteDance to put it up for sale.
Bobby Kotick, who previously served as the CEO of Activision Blizzard before resigning last year, appears to be considering the purchase of TikTok. This consideration arises as a fresh legislation in the US poses a potential ban on the app or could force it to be sold.
According to the Wall Street Journal, Kotick shared his thoughts on partnering to purchase TikTok with Sam Altman, the leader of OpenAI, and some other people, during a dinner held a week ago. He also conversed about the proposition with Zhang Yiming, the chief executive of ByteDance, the company that possesses TikTok. The report suggests that if TikTok is put up for sale, its selling price could reach up to hundreds of billions of dollars.
Kotick was at the helm of Activision for over three decades.
Kotick's alleged fascination with TikTok comes amidst a chaotic period for the popular social media platform, as it faces a possible prohibition in the US, one of its biggest markets outside of China. Recently, US legislators proposed the "Protecting Americans from Foreign Adversary Controlled Applications Act" which would facilitate their ability to either completely ban TikTok or dissociate it from ByteDance.
President Biden has shown willingness to endorse the bill should it get approval. The suggested legislation, due for a House vote on Wednesday, necessitates that ByteDance, the Chinese parent company of TikTok, must offload the app to a US-based firm, or one from its allied countries, within half a year if it intends to sustain its operations in the US.
If this is not done, TikTok could be taken off from US app stores.
In the wake of rapid legislative action, TikTok has been encouraging its vast user base in the US to stand with it. The app disseminated alerts last week, prompting users to reach out to their lawmakers.
It's anticipated that the bill will be approved in the House vote, particularly since it gained complete endorsement from the Energy and Commerce Committee the previous week. Should the House approve it, the bill would then proceed to the Senate for additional review.
Legislators are worried about the data privacy issues of TikTok and its connection to China. Nonetheless, The Wall Street Journal indicates that if Sam Altman becomes involved in a possible acquisition, it may trigger further worries. This is due to the potential of OpenAI utilizing TikTok to enhance its AI models, a development that may not be in the best interest of users.
(Incorporating information from various sources)
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