After less than a year since its re-launch, Jay Z is in talks to sell Tidal to Samsung.
According to the New York Post, Samsung is just one of many looking for the rights to the company. Google and Spotify have also thrown their hat into negotiations, however Samsung has currently shown the most interest after it was revealed the streaming service, originally of Swedish descent, has “big plans” yet to be revealed or teased. “Samsung is re-engaging; they are working on something really big, and they’re keeping it very quiet in case it leaks,” The Post reports.
No specific details have surfaced as to how much Samsung is actually willing to pay to buy Tidal. It’s reported that the deal could be worth nine figures, but nothing fully credible publicly is yet known for certain.
Jay Z bought Tidal in October 2014 for $56 million and relaunched it March 2015. Since the acquisition the streaming service has seen its fair share of issues. Even though it’s premiered the albums of some of today’s biggest stars like Rihanna and Kanye West, the company went through three CEOs in a year and has been met with other criticisms. It’s also reported that subscriptions for the app were much lower than those of Spotify or Apple Music.