Ex-Activision Blizzard CEO Bobby Kotick Looking To Buy TikTok?
Bobby Kotick, the ex-CEO of Activision Blizzard who resigned at the close of last year, has reportedly shown interest in acquiring TikTok.
Bobby Kotick, the ex-CEO of Activision Blizzard who resigned at the close of last year, has reportedly shown interest in acquiring TikTok amidst a new US bill that poses a threat to ban or mandate the app's sale, the media has reported. According to The Wall Street Journal (WSJ), Kotick discussed the prospect of collaborating on this acquisition with OpenAI CEO Sam Altman and other attendees during a conference dinner last week.
He also raised the matter with ByteDance Executive Chair Zhang Yiming. Should TikTok be sold, The WSJ says, it could fetch hundreds of billions of dollars.
Having spearheaded Activision for more than three decades, Kotick's departure from Activision wasn't without controversy. The company grappled with numerous lawsuits, notably settling one with the California Civil Rights Department in December concerning purported pay disparities. In 2021, Activision Blizzard staff staged a walkout, calling for Kotick's resignation, though he retained his position until Microsoft's acquisition of the company was finalised in 2023.
Amidst a turbulent period for TikTok, Kotick's purported interest in the platform surfaces. This follows the recent introduction of the "Protecting Americans from Foreign Adversary Controlled Applications Act" by lawmakers, which President Biden expressed intent to sign if it garners approval. The bill, slated for a vote on Wednesday, stipulates that ByteDance, TikTok's China-based parent company, must divest the app within six months, or face expulsion from US app stores.
Notably, earlier this month, the United States House of Representatives passed a Bill requiring TikTok's Chinese owner ByteDance to divest its US assets within six months, or else face a ban. According to news agency AP, the Bill received bipartisan support, passing with a vote of 352-65. However, its future in the Senate is uncertain, as some senators prefer a different approach to regulating foreign-owned apps.
TikTok's fate has sparked significant concern among lawmakers, with both Democrats and Republicans receiving numerous calls from teenage TikTok users opposing the legislation.
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