Apple in Talks to Acquire Tidal, Jay Z's Streaming-Music Service -- Sources
June 30 2016 - 6:48PM
Dow Jones News
By Daisuke Wakabayashi, Hannah Karp and Patience Haggin
Apple Inc. is in exploratory talks to acquire Tidal, a
streaming-music service run by rap mogul Jay Z, according to people
familiar with the matter.
The talks are ongoing and may not result in a deal, these people
said. 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 as Kanye West and Madonna.
Terms of the potential deal aren't known.
Jay Z bought the service in March 2015 for $56 million from
Swedish company Aspiro. He launched the service under the brand
Tidal a month later. 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 had not held talks with
Apple.
Write to Daisuke Wakabayashi at Daisuke.Wakabayashi@wsj.com,
Hannah Karp at hannah.karp@wsj.com and Patience Haggin at
patience.haggin@wsj.com
(END) Dow Jones Newswires
June 30, 2016 18:33 ET (22:33 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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