Jack Dorsey’s Square, the payments company, was in talks to acquire the music, podcast and streaming video subscription service Tidal. Bloomberg reported, citing a source familiar with the situation.
According to the person familiar with the matter, Dorsey discussed a potential deal with rapper Jay-Z, who purchased Tidal for $56 million in early 2015.
Bloomberg said Dorsey aims to turn Square into a company made up of a group of enterprises offering several independent services.
Square declined to comment, and Tidal did not respond to a request for comment.
Earlier, Square created patent alliance for cryptocurrency companies, and said it would allocate $10 million to support Bitcoin mining using renewable energy.
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