Jay Z And Apple (AAPL) Are In Huge Talks
Author By Sophia VidaPosted on According to sources familiar with the matter, tech giant Apple Inc. is in talks to acquire Jay-Z’s streaming music service Tidal.
The people said the talks are ongoing, but may not result in a deal. The terms of the potential deal are also unknown.
Tidal has strong ties to popular artists such as Kanye West and could strengthen Apple’s Music service. The service charges $20 a month for a high-fidelity version of its 40 million-song catalog or $10 a month for standard-quality sound
Rap mobul Jay Z bought Tidal in March 2015 for $56 million from Swedish company Aspiro.
According to people familiar the matter, Jay Z has given 19 famous artists and bands small stakes in Tidal and promised each millions of dollars worth of marketing.
A Tidal spokesman said Tidal executives hadn’t held talks with Apple.
Disclaimer: We have no position in Apple Inc. (NASDAQ: AAPL) and have not been compensated for this article.
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