Samsung and Google have expressed interest in purchasing Tidal, the music streaming service owned by Jay Z.
Jay Z purchased Tidal only a year ago from Aspiro, but now Samsung is looking at buying out the music streaming services, sources familiar with the matter told the New York Post. The Korean tech giant has long been rumored to be interested in Tidal, but it could now seriously benefit the company, as they’re rumored to be working on something “big,” according to the New York Post‘s sources:
“Samsung is re-engaging; they are working on something really big, and they’re keeping it very quiet in case it leaks.”
What “big thing” Samsung is working on is a mystery, but it could face some serious competition, as both Google and Spotify are looking at Tidal as a prospective purchase in order to improve and further their own digital music services–Play Music, YouTube Music, and Spotify, respectively.
It’s clear that Tidal needs a new owner, as its struggling financially thanks to cash flow problems, according to the New York Post. And it seems like things are only going to get worse, as some bad business practices have put both Tidal and Jay Z straight in the middle of a rather large class action lawsuit.
Lawsuits are always bad business, and we’re not quite sure how that might affect Samsung, Google, or Spotify’s interest in purchasing the music streaming service, though Spotify is more interested in a partnership than a full acquisition.
Tidal is currently valued at $100 million, sources told the New York Post.
Both Samsung, Google, and Tidal haven’t made any official comments, but we’ll no doubt hear more as one of the companies gets closer to a deal.
source: New York Post