Oracle & Ellison Consortium Propose TikTok US Deal
Oracle and a consortium led by Larry Ellison have proposed a deal to handle TikTok's US operations, including security and cloud services. The deal, pending Beijing's approval, involves a new US-based TikTok with ByteDance holding a minority stake.
Oracle, with a backlog of nearly $100 billion in orders due to high demand for AI, will manage TikTok US's security operations and provide cloud computing services. The new company, valued between $35 billion and $50 billion, will replicate TikTok's algorithm using American user data, with Bytedance providing its current software algorithm.
Larry Ellison's influence in US media could significantly expand. His son, David, recently completed an $8 billion takeover of Paramount with Skydance Media, backed by the Ellison family. The family is also supporting Paramount's $70 billion-plus bid for Warner Bros. Discovery. Ellison's fortune surged to $393 billion in September 2023, briefly making him the world's richest person.
The proposed deal, led by Oracle and the Ellison consortium, aims to create a US-based TikTok with enhanced security and cloud services. If approved by Beijing, this could reshape the US media landscape, given Larry Ellison's potential control over TikTok and his family's involvement in major media acquisitions.
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