Axel Springer pitches bid for European TikTok operations

Axel Springer, the publisher behind Politico and The Telegraph, is pitching a deal to purchase the European operations of TikTok. The company reportedly sought proximity to the Trump administration through Charles Kushner, the father of Jared Kushner, to facilitate these discussions. This strategy mirrors the recent acquisition of the US arm of TikTok by Larry Ellison, which closed for $14 billion. Axel Springer aims to become the European equivalent of that arrangement, integrating a major social media platform into its current media holdings. Analysts speculate that the European arm might command a higher price than the US deal, potentially reaching around $20 billion. The maneuvering highlights how media companies are positioning themselves amid geopolitical shifts and the fragmentation of TikTok's global operations. By securing the European entity, Axel Springer would expand its digital footprint significantly, leveraging its existing news and media assets to support a large-scale social network.