GOOGLE REPORTEDLY CONSIDERING PURCHASING SOUNDCLOUD
Though rumors of a Spotify buyout were recently squashed, it seems that tech giant Google is the latest to look into buying Soundcloud. According to Music Business Worldwide, Google is reportedly considering purchasing the streaming platform for half of its $1 billion asking price.
Last year, Soundcloud made major inroads with the major music labels, developing agreements between them to allow the platform to continue hosting their tracks. The labels were also found to have ownership stakes in Soundcloud, with Universal acquiring a 4% holding in the company, with Sony on 3% and Warner on somewhere between 1% and 2%.Stay tuned for more on this as news becomes available.
H/T Resident Advisor