The former CEO of a well-known company is reportedly interested in purchasing TikTok amid threats of a ban or forced sale in the US. According to reports, the former CEO mentioned the idea to other industry leaders and has reached out to the current executive chair of ByteDance. If TikTok is sold, it could fetch a price in the hundreds of billions of dollars.
The former CEO led the company for over 30 years but faced several challenges before stepping down at the end of last year. The company has been involved in multiple lawsuits, including settlements related to workplace complaints and alleged pay discrimination. Despite calls for resignation from employees in 2021, the former CEO continued to lead the company until the end of 2023.
The interest in TikTok comes at a time when lawmakers are considering a bill that could require ByteDance to sell the app within six months or face a ban in the US. TikTok has been urging its users to support the platform amidst these challenges, but the future remains uncertain. Involving other industry leaders in the purchase could have implications for the app’s future use, particularly in the realm of AI training.
An update to the article clarifies the nature of Activision’s settlement with authorities and removes references to unrelated allegations against the former CEO. The settlement did not substantiate claims of systemic sexual harassment at the company or improper actions by the Board of Directors or the former CEO.
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