Following multiple rumors saying Apple was planning to buy Jay Z-owned streaming service Tidal, the company has finally moved to quash rumors.
Back in June of this year, The Wall Street Journal reported that the Cupertino company was “in talks” to acquire Tidal. However, Apple executive Jimmy Iovine on Wednesday said the company is not currently pursuing such plans.
“We’re really running our own race,” Iovine stated. “We’re not looking to acquire any streaming services.”
Meantime, the report says Iovine did not deny that Apple and Tidal discussed a potential acquisition.
Tidal is owned by a number of different musicians including Jay Z, Alicia Keys, J. Cole, Nicki Minaj, Chris Martin, Calvin Harris, and Kanye West. Buying Tidal would have brought Apple Music an additional 4 million subscribers.
Apple isn’t the first company to be rumored to be planning to acquire Tidal. According to a report earlier this year, such companies like Samsung, Google, and Spotify were also interested in buying the service.
Apple Music currently has about 17 million subscribers, while Tidal boasts about 4.2 million. Meanwhile, Spotify has recently revealed its subscriber numbers are now at 40 million people.