TikTok signs deal to sell US unit to American investor-led venture

Paramount has upped the ante in its hostile takeover bid for Warner Bros. Discovery, announcing Monday that Oracle founder Larry Ellison will personally guarantee over $40 billion. The announcement comes after the Warner Bros. board of directors has rejected Paramount’s bid multiple times, opting instead to go with an offer from Netflix, which WBD, the parent company of CNN, says is more valuable. CNN's David Goldman reports. #cnn #news #hbo #netflix #paramount #larryellison

Tick-tock, TikTok ⏰ The Associated Press reports that the TikTok sale saga is beginning to end, as parent company ByteDance has signed agreements with three major investors: Oracle, Silver Lake and Abu Dhabi-based investment firm MGX. Together, they will form a new TikTok U.S. joint venture, allowing the service to continue operating in the US. According to an internal memo seen by the AP, CEO Shou Zi Chew wrote to employees:

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TikTok signs deal to form new US unit with investors, including Oracle, Silver Lake

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