Samsung Is Not Purchasing Jay Z's Tidal

Last week reports indicated that Jay Z was in talks with Samsung, a company with whom he and his label, Roc Nation, have done extensive business, to purchase TIDAL, the Swedish music streaming platform Hov relaunched state-side in March of 2015. Samsung has finally responded to the claims, and it appears that there are no such conversations happening.

Amid massive changes in TIDAL’s hierarchy, including the departure of the COO and CFO just days after the Daily News first reported the possible purchase talks, rumors began bubbling over of not only Samsung’s interest in acquiring the streaming service, but of reported interest from Google as well. It’s been a tumultuous first year for the company, which was mentioned as a distraction in a lawsuit from Roc Nation artist Rita Ora, and fumbled roll-outs of both Rihanna and Kanye West‘s recent albums.

In a statement given to Variety, a Samsung spokesperson very succinctly put the rumors to rest, “The rumor of Samsung acquiring Tidal is not true.” While the brief statement doesn’t indicate whether or not there were any serious talks between Jay Z and Samsung to begin with, it clearly sets aside the possibility that any exist today.

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