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Square Has Discussed Acquiring Jay-Z’s Tidal Service

  • Streaming music platform has struggled to keep up with Spotify
  • Dorsey has met with Jay-Z multiple times during the pandemic
The Tidal app.
The Tidal app.Photographer: Andrew Harrer/Bloomberg
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Square Inc., the digital-payment company run by Jack Dorsey, has held talks to acquire the music-streaming service Tidal as part of a push to diversify, according to a person familiar with the situation.

Dorsey has discussed a potential deal with Jay-Z, the rapper and music mogul who acquired Tidal for $56 million in early 2015, said the person, who asked not to be identified because the talks were private. The negotiations may not result in a transaction.