In an article posted on hitsdailydouble.com, it was stated that the company Tidal is set to be bailed out by Samsung. According to several sources, Samsung has restarted talks with Jay-Z buy him out of Tidal. In its launch in 2013, the Korea-based electronics company teamed up with Jay-Z.
Samsung is said to be working on something re-engaging and big. For fear of it being leaked, they’re keeping it quiet.
It is said that Tidal is heading north of $10 million a year debt. Recent exclusives from Rihanna, Kanye and Beyonce haven’t generated any new subscribers.
Google and Spotify have been eyeing Tidal as well. They believe that Tidal can give them a boost with their companies.
Jay-Z definitely doesn’t want to see Tidal go under, he’s been going into his own pocket to keep the subscription service going. At the time of Tidal’s launch, it was believed to be worth at $250 million and it is now worth $100 million. Click here to read more.
Jay-Z has worked with Desiree Perez for about 20 years and has an excellent track record for running SC Enterprises with her husband – Juan Perez – who also manages Roc Nation Sports.
She is popular for her tough negotiation skills and mastery of the streets. Not even Empire’s ‘Cookie‘ can challenge her skills. The N.Y. Daily News has branded Des as ‘Babe Ruthless‘ on occasions. She is a boss known for negotiating for the formation stadium tour for Beyonce. Rihanna also had her play a big role in her deal with Samsung. Click here to read more.
She is a member of Hova Circle of Influence. Also members – her husband, TyTy Smith, Chaka Pilgrim, and Jana Fleischman – are a team that oversees the operation of Roc Nation and its management wings, publishing, and label operation.