Negotiations underway for acquisition of TikTok following US ban

Published March 14th, 2024 - 11:51 GMT
TikTok
Culver City, CA, USA - May 10, 2022: (Shutterstock)

ALBAWABA - During a conference dinner last week, Bobby Kotick, the former CEO of Activision Blizzard, discussed possible collaboration for the acquisition of TikTok with OpenAI CEO Sam Altman and other participants, according to recent reports in The Wall Street Journal.

Rumor has it that Kotick spoke with Zhang Yiming, Chairman of ByteDance (TikTok's parent business), about this issue directly. Reports indicate that the sale of TikTok would fetch a staggering sum of money.

After more than 30 years at the helm, Kotick was finally forced to step down as Activision CEO in 2021 after facing accusations that he encouraged a hostile work environment for women and girls.

Reports came after these discoveries suggesting that Kotick knew about multiple incidents of assault and wrongdoing at the firm but did not bring them up with the board enough. After Activision Blizzard employees demanded Kotick go, the situation heated up; however, he stayed on until Microsoft's acquisition of Activision Blizzard was completed in 2023.

The rumored interest in TikTok by Kotick has surfaced at a time of great upheaval for the massively popular social media site.
 

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