Samsung denies that the company will buy out Tidal

'The rumour of Samsung acquiring Tidal is not true', says their spokesperson

A spokesperson from Samsung has quashed all rumours that the electronics company will buy out Tidal.

The music streaming service, bought by Jay-Z last year for £40.4m ($56m), has reportedly had difficulty in paying royalty bills on time.

Rumours have been circulating for months that Samsung would buy out the music service, but a spokesperson for the company has now told Variety magazine that “the rumour of Samsung acquiring Tidal is not true”.

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Tidal hasn’t had a smooth year. In July 2015 Lil Wayne sued them for releasing his ‘Free Weezy Album’ for free, and only a few weeks ago, as reported by FACT Magazine, Tidal was faced with a class action for not paying royalties to duo The American Dollar.

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Tidal was launched on March 30 2015, offering a “better service and experience for the user and the artist”. Jay Z, Madonna, Kanye West, Beyonce, Rihanna and more were all present at the launch in New York.

The rumours about Samsung buying out the service started up late last year, but, as The New York Post reported, a source claims talks had been instigated again more recently.

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.”

They also claimed that Google and Spotify have been considering working with Tidal. Spotify currently have over 20 million paid subscribers, compared to Tidal, who have gained over one million since Jay Z’s takeover.

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