Oracle stock jumps as cloud provider joins investor group to run TikTok's U.S. business
1:49
YouTubeCNBC Television
Oracle stock jumps as cloud provider joins investor group to run TikTok's U.S. business
Oracle’s stock jumped 7% Friday after the cloud provider joined a group of investors slated to lead TikTok’s U.S. operations. In a memo to employees Thursday, TikTok CEO Shou Zi Chew said the social media company’s U.S. division will be run by a joint venture that includes Oracle, Silver Lake and Abu Dhabi-based MGX. The deal is expected ...
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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
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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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