Axel Springer pitched deal to buy TikTok’s European arm, FT reports

Axel Springer, the media conglomerate behind Politico and The Telegraph, reportedly made a bid to acquire a portion of TikTok's European division, as disclosed by the Financial Times. This proposal came during a January meeting with Charles Kushner, the U.S. ambassador to France and son-in-law to former President Donald Trump, at Axel Springer's Berlin headquarters.

The meeting, which also involved prominent political and media personalities, was centered on addressing antisemitism on social media platforms. However, the initiative did not gain any significant momentum, according to the FT. ByteDance, TikTok's parent company, denied any existence of formal acquisition discussions. Axel Springer, on the other hand, affirmed its openness towards discovering a European resolution for TikTok.

This proposal echoes a restructuring of TikTok's U.S. operations through a deal aimed at tackling security issues related to its Chinese ownership. The U.S. arrangement culminated in a joint venture, valued at $14 billion, led by Oracle. Döpfner has previously suggested transferring TikTok to democratic shareholders, proposing it as a platform for combating propaganda.

An investment in TikTok's European operations would be seen as an attempt to alter ownership, rather than merely limiting users' access to the platform in Europe. Axel Springer's media portfolio includes publications like Politico, The Telegraph, Bild, and Die Welt, and it has grown its global media presence through acquisitions.