Apple in Talks to Acquire Jay Z’s Tidal Music Service
Apple Inc. is in talks to acquire Tidal, a streaming-music service run by rap mogul Jay-Z, according to people familiar with the matter. It’s crazy how the media was talking down on Jigga’s platform just a couple months ago but Apple trying to buy it today.
Apple is exploring the idea of bringing on Tidal to bolster its Apple Music service because of Tidal’s strong ties to popular artists such asKanye West and Madonna. The talks are ongoing and may not result in a deal, these people said. Terms of the potential deal aren’t known.
Jay Z bought the service in March 2015 for $56 million from Swedish company Aspiro, which had created the brand Tidal. He has given 19 famous artists and bands small stakes in Tidal and promised each millions of dollars worth of marketing, according to people familiar with the matter.
Tidal is also the only service offering the catalog of the late pop star Prince, who was wary of other streaming services but had a close relationship with Jay Z. Prince died in April at the age of 57 of an overdose.
