Apple is in talks to acquire Tidal, a streaming-music service owned by Jay Z, the Wall Street Journal reported, citing people familiar with the matter. Apple thinks Tidal may to bolster its Apple Music service because of its strong ties to artists such as Kanye West and Madonna. The talks are ongoing and may not result in a deal, the sources said. No terms were disclosed.
Jay Z bought the service in March 2015 for USD 56 million from 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. A Tidal spokesman said Tidal executives hadn’t held talks with Apple.
