Rumor has it that Samsung is in talks to acquire the Jay Z-owned media streaming service TIDAL.
A source told the New York Post that “Samsung is re-engaging,” and “They are working on something really big, and they’re keeping it very quiet in case it leaks.”
Jay Z bought the streaming service for $56 million in January 2015. A short time thereafter, he established a star studded artist ownership/ partnership deal with several artists such as, Kanye West, Beyoncé, Rihanna, Daft Punk, Jack White, Nicki Minaj, Madonna, Rihanna, Usher, Alicia Keys, & J. Cole.
Samsung has expressed interest in acquiring TIDAL before, and they inked a $20 million deal with Jay Z in 2013 and a $25 million deal with Rihanna in October 2015. TIDAL hit the million subscriber mark in September and has gained 1.5 million subscribers since the release of Kanye West’s The Life of Pablo on Feb. 14.
Samsung isn’t the only eyeing the streaming service. Reportedly Spotify and Google have both been looking into acquiring TIDAL.
Source: The NY Post