Apple is reportedly “in talks” to buy Tidal, the music service owned by Jay-Z that is a direct competitor to Apple Music. It might seem like a bizarre move for Apple, who might otherwise chase down a company like Spotify with its piles of cash, but Tidal could be a more compelling play. Like Apple Music, Tidal has been particularly good at securing exclusive music releases from artists such as Beyonce and Kanye West.
The news was first reported by The Wall Street Journal. This isn’t the first time rumors have sparked about Tidal becoming an acquisition target. In fact, way back in October a rumor suggested Samsung was interested in acquiring Tidal after executives were spotted meeting with Jay-Z. Again, in February of this year, Samsung was rumored as a suitor to the streaming music service.
Jay-Z hasn’t seemed particularly pleased with the service following his $56 million acquisition, and in fact sued the original owners in April of this year for lying about the subscriber base before the sale.
BREAKING: Apple in Talks to Acquire Tidal, Jay Z's Streaming-Music Service – Dow Jones
— CNBC Now (@CNBCnow) June 30, 2016
The Wall Street Journal noted that Apple has “had exploratory talks beginning last year with other potential partners” but said that Tidal has denied the meetings with Apple. An Apple spokesperson was not immediately available for comment.