“Apple Inc. is in exploratory talks to acquire Tidal, a streaming-music service run by rap mogul Jay Z, according to people familiar with the matter,” Daisuke Wakabayashi, Hannah Karp and Patience Haggin report for The Wall Street Journal.
“The talks are ongoing and may not result in a deal, these people said. Apple is exploring the idea of bringing on Tidal to bolster its Apple Music service because of Tidal’s strong ties to popular artists such as Kanye West and Madonna,” Wakabayashi, Karp and Haggin report. “Terms of the potential deal aren’t known.”
“Tidal charges $20 a month for a high-fidelity version of its 40-million-song catalog or $10 a month for standard-quality sound. Tidal said it has 4.2 million paying subscribers,” Wakabayashi, Karp and Haggin report. “But the company has experienced management turmoil, churning through three chief executives, including one hired by previous management and one interim, in less than a year.”
Read more in the full article here.
MacDailyNews Take: Consolidation.