Samsung have quashed rumors that they will buy Jay-Z’s struggling music streaming service Tidal.
A spokesperson told Variety magazine that the “rumor of Samsung buying Tidal are simply not true.”
Tidal was bought by Jay-Z for a reported $56m, but the service has struggled to pay artists royalty fees on time. In July 2015, Lil Wayne sued Tidal for releasing his ‘Free Weezy Album’ for free. More recently, FACT Magazine reported that Tidal was facing a class action suit for not paying royalties to The American Dollar.
The Samsung rumors remerged from last year due to The New York Times reporting that Samsung had something in the pipeline. The source said: “Samsung is re-engaging; they are working on something really big, and they’re keeping it very quiet in case it leaks.”
The streaming service has attracted projects such as Rihanna’s ANTI and Kanye West’s The Life of Pablo to be exclusively released on the service.