It seems that the reports of Samsung’s intention to purchase TIDAL were highly exaggerated. The company says all the chit chatter about them copping Jay Z’s streaming music service were just rumors.
“The rumor of Samsung acquiring Tidal is not true,” said Samsung spokesperson, breaking the company’s silence on the matter. This comes after months of reports about conversations between the two companies.
Rumors about Samsung looking to acquire Tidal were first fueled by Tidal owner Jay Z stopping by Samsung’s campus to meet with the company’s executives last October. The New York Post reported last month that the two parties had picked up talks again.
Jay Z acquired Tidal for $56 million a little over a year ago. The streaming service has been struggling with management and marketing issues following the acquisition; it appointed its third CEO in nine months in December, and fired its COO and CFO earlier this month.
And there you have it.
But don’t expect a megawatt deal involving TIDAL not to happen sooner or later.
Photo: screen cap