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Bobby Kotick, ex-head of Activision Blizzard, aims to purchase TikTok and has presented the idea to Sam Altman
Bobby Kotick, who used to be in charge of Activision Blizzard, is setting plans in motion to acquire TikTok from ByteDance, providing the Chinese company decides to sell. This is happening while American politicians are considering prohibiting the app or compelling ByteDance to put it up for sale.
Bobby Kotick, who previously served as the CEO of Activision Blizzard and resigned last year, appears to be considering the purchase of TikTok. This development arises as a recently enacted US legislation poses a risk of prohibiting the app or compelling it to sell.
According to The Wall Street Journal, Kotick discussed the idea of collaborating to acquire TikTok with Sam Altman, who leads OpenAI, and others during a dinner last week. He also brought up the concept with Zhang Yiming, the leader of ByteDance, the company that owns TikTok. The report suggests that if TikTok is put up for sale, it could fetch a price in the hundreds of billions of dollars.
Kotick has been at the helm of Activision for over three decades.
Kotick's alleged fascination with TikTok is surfacing 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. The US legislators recently proposed the "Protecting Americans from Foreign Adversary Controlled Applications Act". This act could simplify the process for them to either outlaw TikTok or separate it from ByteDance.
President Biden has expressed willingness to approve the bill if it gets passed. This suggested legislation, set to be voted on by the House on Wednesday, would necessitate that ByteDance, the Chinese parent company of TikTok, sells the app to a US-based company or one of its allies within half a year if it wants to keep functioning in the US.
If this is not done, TikTok faces removal from US app stores.
In reaction to the rapidly progressing laws, TikTok has appealed to its numerous American users for their support. The application disseminated alerts last week, requesting users to reach out to their local lawmakers.
It is anticipated that the bill will be approved in the House vote, particularly since it received complete endorsement from the Energy and Commerce Committee last week. If the House gives the green light, the bill will proceed to the Senate for additional evaluation.
Legislators are worried about the data confidentiality issues of TikTok and its connection to China. However, The Wall Street Journal indicates that if Sam Altman were to be a part of a prospective acquisition, it could cause apprehensions. This is due to the potential that OpenAI might utilize TikTok to educate its AI models, which might not be the best scenario for its users.
(Incorporating information from various sources)
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