CUPERTINO, CA (CelebrityAccess) — The Wall Street Journal is reporting that Apple Inc. is reportedly in talks to buy Tidal, the streaming music service owned my music mogul Jay Z.
Terms of a potential deal were not disclosed and sources close to the talks told the WSJ that they were still in the early stages.
Jay Z acquired Tidal in 2015 from Swedish company Aspiro for $56 million and while securing support from his music industry compatriots and landing several key exclusives, such as the streaming catalog of late music icon Prince, the music paid subscription music service has failed to generate traction or much revenue.
According to the WSJ, Tidal has held exploratory talks with a number of potential suitors since late last year, including the music streaming service Napster, formerly Rhapsody.
News of the rumored talks come after Apple touted the success of its own music service, reporting last month that they had crept up to 15 million paid subscribers. The company also said it is planning a full revamp due to release in the fall as a part of a wider update to its iPhone software. – Staff Writers