Apple in Talks to Acquire TIDAL: Report
Is Apple's next acquisition Jay Z's TIDAL?
According to the Wall Street Journal, the tech giant is in talks to acquire Hov's streaming service.
Sources close to discussions say negotiations are ongoing, but no official deal has been reached yet.
There were rumors earlier this year that Samsung was in talks to purchase TIDAL, though these claims were denied by the company.
In the streaming music space, TIDAL and Apple are the main competitors for Spotify. If Apple does aquire TIDAL, it would benefit from its direct connections with superstars like Beyoncé, Kanye West, Rihanna, and Madonna, among others -- all of whom has released exclusive content on the platform.
Jay Z purchased TIDAL from Swedish company Aspiro in March 2015 for a reported $56 million. Since then, its subscription numbers have grown, thanks to releases like Kanye's The Life of Pablo, Beyonce's LEMONADE and Rihanna's ANTI.
Apple, however, has received its own exclusive releases, from the likes of Drake, Future and Chance the Rapper.
A TIDAL spokesperson tells WSJ that there has been no talks with Apple.