News - 07/03/2016

Samsung categorically denies Tidal buy

Samsung categorically denies Tidal buy

Samsung has quashed rumours that the company is looking to purchase Jay-Z’s streaming service Tidal. 

A spokesperson for the company told Variety: “The rumor of Samsung acquiring Tidal is not true.” 

This puts an end to months of speculation that had started when Jay-Z had met with Samsung executives in October 2015. 

Tidal has had a bump in interest from users following exclusive releases from Rihanna and Kanye West, however, the service is almost certainly in need of fresh finance. The question now is whether Tidal was actively looking for an acquisition and, if so, whether it had multiple suitors or not.

If not, expect to find Jay-Z running through PowerPoint presentations at VC firms in the near future. 

 

(Andrea Leonelli) 

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