Apple according to certain reports are planning on acquiring rap and business mogul’s Tidal , thereby eliminating another competition in the streaming world.
According to The Wall Street Journal, the news came on the back of reports that Tidal has been shopping for potential buyers, including holding talks last year with Napster, the company formally called Rhapsody.
Apple want to buy Tidal to expand its coast as
Tidal has strong ties with world renowned artits, Madonna, Rihanna and Kanye West.
Terms of the deal are yet to be revealed.
The American rapper, bought the streaming service in March 2015 for $56 million from Swedish company Aspiro. Jay Z launched the service under the brand Tidal a month later. He has given 19 famous artists and bands small stakes in Tidal and promised each millions of dollars worth of marketing, according to people familiar with the matter.
A spokesperson for Tidal revealed that executives had not had any talks with Apple yet.
An Apple spokesman declined to comment. Tidal representatives have also kept mute about the supposedly on going talks.
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