Tidal’s $28m loss in 2015 has sparked a revival of speculation that the streaming service may be up for sale, with Apple thought to be the prime suitor.
The only problem with that theory? Apple disagrees. Or to be specific, one of its key music execs does.
“We’re really running our own race,” Jimmy Iovine told BuzzFeed yesterday. “We’re not looking to acquire any streaming services.”
It has the ring of a quote that could be true right up until the point it isn’t: for example, if it became clear that Tidal was about to be acquired by one of Apple Music’s main rivals, or if the company ends up in a fire-sale position where it would make less sense NOT to buy it, given its starry group of co-owners.
BuzzFeed notes that Iovine did not explicitly deny that Apple has had exploratory talks with Tidal in the past about a potential acquisition, as the Wall Street Journal claimed it had in June.