Tidal has long been rumored as an acquisition target for major companies looking to expand their footing in the music industry, such as Apple. However, on January 23rd, Japanese telecommunications giant Softbank – who owns Sprint – moved to buy 33% of the burgeoning streaming service. Sources report that Sprint’s one-third acquisition cost $200m, which would value Tidal at $600m. Sprint CEO Marcelo Claure will join Tidal’s board of directors in an advisory capacity.

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