OSLO - Music streaming service Tidal, owned by rap star Jay-Z, posted heavy losses last year and has had trouble making payments on time, Norwegian business daily Dagens Naeringsliv reported on Tuesday. It has 3.6 million Norwegian kroner (390,000 euros, $438,000) in outstanding payments due, DN claimed. Aspiro, a Norwegian company headquartered in the Swedish town of Malmo, was not immediately available for comment. At the end of June, the Wall Street Journal reported US group Apple was in talks with Tidal regarding a possible purchase, aimed at beefing up its own streaming service Apple Music. Tidal, which had a mixed reception after its relaunch last year, has also heavily promoted exclusives, such as albums by Rihanna and Kanye West.

Source: Bangkok Post September 13, 2016 12:45 UTC