Samsung denies rumor it’s planning to acquire Jay Z’s Tidal

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Samsung is NOT acquiring TIDAL

People and speculation!

Amidst all the rumors about electronics giant Samsung making moves to acquire Jay Z’s TIDAL, Samsung has announced it has NO plans to buy the artiste’s music streaming service.

A spokesperson for Samsung issued a statement to Variety denying the reports. “The rumor of Samsung acquiring TIDAL is not true,” he said. Talks of the streaming service acquisition were launched about a year ago. Jay Z’s ongoing relationship with the phone titan fueled those rumors.

His Magna Carta Holy Grail album was released in partnership with the brand. And recently, Rihanna, who is signed to Roc Nation, brokered a similar deal for ANTI.

Hov purchased TIDAL for $56 million more than a year ago. Although it’s dealt with a variety of executive changes, the company has surged in recent months, thanks in large part to Kanye West’s The Life of Pablo exclusive.

See Also: Jay Z addresses rumours about Tidal’s $5M lawsuit

The service was recently valued at $100 million.

Meanwhile, Samsung’s streaming service Milk Music, will likely shut down within weeks.

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