mergers and acquisitions

Apple Music Head Jimmy Iovine Says Apple Isn’t Planning to Buy Tidal After All

WSJ. Magazine's
Photo: D Dipasupil/FilmMagic

It seems that sometimes “in talks” really just means “in talks.” Although The Wall Street Journal reported back in June that Apple was negotiating to buy Tidal, no such deal is coming. At least, that’s according to Apple Music head Jimmy Iovine. Asked about the report, Iovine told Buzzfeed News: “We’re really running our own race … We’re not looking to acquire any streaming services.” While talks between Tidal and Apple have evidently cooled (word of a snag in the would-be deal surfaced back in July), buying Tidal was initially seen as an attractive prospect for Apple. The logic was that with Tidal’s all-star roster, some of whom (Kanye West, Beyoncé) have initially released albums exclusively on the service, owning Tidal would give Apple a leg-up on competitor Spotify. Man, Kanye is not going to be happy when he finds out that Apple is still trying to act like they’re Steve.  

Apple Music Head Says Apple Isn’t Buying Tidal