Samsung Says It Is Not Buying Tidal [OFFICIAL]
Rumors have been swirling around Tidal in recent weeks, as the music streamer has struggled to recover from a string of high profile missteps. The most prominent story line was that Jay Z and company were in serious talks with Samsung about a sale.
"The rumor of Samsung acquiring Tidal is not true,” a Samsung spokesperson has told Variety. The strong denial comes after weeks of strong rumors and a recent New York post report that the two companies were in serious talks.
An acquisition would have been a lifeline for an apparently struggling Tidal; and seem to make sense for Samsung, who has failed to find a successful music strategy despite multiple attempts.
Samsung has publicly admitted that it is again revamping its plans for a music; and on Friday sources pointed toward the company shuttering its 2 year old Pandora-like Milk Music service. A source told Variety that Milk's free component has gained some traction, but very few were willing to pay for Milk’s premium tier. Late last year, Samsung closed the accompanying Milk Video service.