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Samsung in talk to buy Jay Z’s own Tidal

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It seems Samsung has emerge favorite to acquire Jay Z’s video service Tidal after report earlier this year suggest it could be sold to Spotify.
Samsung and Jay Z have done some pretty big deals before, but they could now be working on their biggest deal yet.
via NY Daily News:

Samsung, which is expected to have a big presence at this year’s Oscars, has long been rumored as an interested buyer — and has held on-and-off talks with Tidal.

Samsung ponied up some $28 million to sponsor Rihanna’s latest album and tour. The 28-year-old singer is a partner in Tidal and is signed to Jay Z’s Roc Nation label.

“Samsung is re-engaging; they are working on something really big, and they’re keeping it very quiet in case it leaks,” said a source close to talks.

A spokesperson for Samsung said: “It is our policy to not comment on rumors or speculation.”

Google and Spotify have also been eyeing Tidal, sources said. Both believe Tidal, although struggling, can bolster their own digital music services.

Talks the companies are having with Tidal now appear to be aimed at smaller partnerships, sources said.

Spotify has discussed creating an initiative that could produce a Tidal “powered by Spotify” partnership rather than an acquisition.

Tidal has succeeded in attracting upwards of one million subscribers but has faced several stumbles in its short life. The firm in December hired its third boss, naming former SoundCloud executive Jeff Toig as chief executive.

Also, Tidal accidentally released Rihanna’s album “Anti” early while Kanye West’s latest album, “The Life of Pablo,” suffered from huge piracy issues after it was released widely even to nonsubscribers of Tidal.

The piracy cost West at least $10 million in lost sales in the first days of its release, The Post reported.

The dysfunction, though common to many tech startups, has been eating into Tidal’s financing.

“The pressure is definitely on,” said one source who confirmed that Tidal is having trouble paying some of its royalty bills on time.

In addition, Jay Z has reached into his own pocket to help boost the music streamer, another source noted.

“Tidal certainly needs a new home to stay alive,” said a music industry insider.

Tidal was unveiled in October 2014 with a unique selling point: high fidelity music and an artist-owned collective.

Its owners include Madonna, Nicki Minaj, Rihanna and Alicia Keys.

Back then, phone company Sprint got a shout-out from the stage and was expected to become an equity backer. That never happened, in part because of concerns that Tidal didn’t own much beyond a technology service.

Potential backers were concerned that artists would be constrained from promoting Tidal exclusive releases by their own label deals, sources said.

Tidal executives, around the time of the launch, believed it was worth as much as $250 million.

It is now valued at about $100 million, according to sources in the streaming space.

Tidal’s predecessor, Aspiro, was acquired for $56 million early last year.

Both Samsung and Tidal declined comment.

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80% of buildings in Lekki have no government approval, says commissioner

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Oluyinka Olumide, commissioner for physical planning and urban development in Lagos, says 80 percent of buildings in the Ibeju Lekki-Epe corridor have no government approval.

The Lagos government has been facing backlash for the demolition of buildings and shanties across the state.

Tokunbo Wahab, commissioner for environment in Lagos, has repeatedly said the demolished structures were erected in contravention of the city’s masterplan, were never approved by the relevant agencies, and occluded drainage channels.

In an interview with journalists, Olumide said despite the rigorous procedures involved in securing government approval, property developers and owners are still circumventing due process.

“Just last Thursday and Friday, my team and I were in the Ibeju Lekki and Epe axis and you would agree that anybody passing through that corridor would see a lot of estates marked,” he said.

“We went there, and I can tell you that from what we saw, over 80 percent of them do not have approval.

“The procedure to get approval is first to get the planning information, as to what those areas have been zoned for. In this case, what we have is agricultural land, and people now go to their families to buy agricultural land.

“Of course, those lands would be sold because those families do not know the use such land would be put to.

“The next thing to do is the fence permit. If you missed the earlier information on not knowing the area zoning, at the point of getting the fence permit, you would be able to detect what the area is zoned for. After that, the layout permits a large expanse of land.

“So, you can see all these layers. But people still go ahead to start advertising. Some have even gone to the extent of displaying the sizes they want to sell. Imagine someone in the diaspora who wants to send money without any knowledge.

“Then, no approval is eventually gotten. Even if they pass the assignment and the survey to them, we would not grant the individual permit, because that area is not zoned for that purpose.”

On Sunday, Wahab said owners of recently demolished property in Maryland had been served notices since 2021.

“We are not just doing demolitions. The law allows us to remove encumbrances on the right of way of the drainage channels,” Wahab said on Channels Television.

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Lagos state government to demolish 100 shanties at Adeniji Adele, asks occupants to leave

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The Lagos government says it will undertake an enforcement action to remove over 100 shanties at the Adeniji Adele under-bridge area of the state.

In a statement posted on his X handle on Sunday, Tokunbo Wahab, Lagos commissioner for environment and water resources, said the decision to remove the shanties follows the expiration of a 48-hour notice given to the occupants to vacate the area.

He said operatives of the kick against indiscipline (KAI) and officials from the monitoring enforcement and compliance (MEC) department of the ministry would be given security backup to carry out the operation.

“This exercise is part of the avowed commitment of the present administration under Mr @jidesanwoolu to reclaim all ungoverned spaces that dot the Lagos landscape,” the statement reads.

“Unsightly shanties which are located in the heart of Lagos Island represent a distorted image of what a smart city like Lagos should be.

“Apart from the unsanitary conditions of residents in the shanties, it also serves as a hiding place for criminals and points for peddling hard drugs and substances which is injurious to the wellbeing of law-abiding residents.

“Therefore, I advise all the occupants of the shanties in their interest, to voluntarily move out with their belongings before the commencement of the enforcement operations on Monday.”

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Appeal court voids law prohibiting unmarried police officers from getting pregnant

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The court of appeal in Lagos has voided the regulations 126 and 127 of the Nigeria Police Act which allow the dismissal of unmarried policewomen who become pregnant while in service.

A three-member panel of justices led by Olubunmi Oyewole ordered the respondents in the suit – attorney-general of the federation (AGF), Police Service Commission (PSC) and the Nigerian Police Force (NPF) – to carry out a comprehensive review of the entire police regulations to ensure that they align with the demands of a modern society operating under the rule of law.

“It is unthinkable that the Nigerian Police of this day and age operates on the principle that female officers need to be specially moderated and regulated while their male counterparts are free,” Oyewole held.

“This is unacceptable in a decent and democratic society governed by the rule of law.

“The argument that the deprivation involved was consented to by prospective female police officers who cannot subsequently complain in the face of the constitutional provisions expressly granting them the rights involved as citizens of this country.

“The rights given go beyond those for the personal benefit of the individuals involved as could be waived by them. They are public rights which accord with the demands of a fair, equitable and humane society.

“These are standards and values demanded of modern nations and which are outside the purview of any individual to waive.

“I, therefore, hold that the said regulations 126 and 127 are inconsistent with the provisions of section 37 and 42 of the Constitution and are therefore null and void to the extent of their inconsistency pursuant to section 1 (3) of the Constitution.

“The Respondents are advised to carry out a comprehensive review of the entire police regulations to ensure that they accord with the demands of a modern society operating under the rule of law.

“I accordingly resolve the two issues in favour of the Appellant and against the Respondents.

“This appeal is meritorious, and it is hereby allowed. Consequently, the decision of the lower court in Suit No. FHC/ABJ/CS/178/2021 delivered on the 21st of February 2022 is hereby set aside.

“Instead, the questions for determination in the said suit are answered in the affirmative while the reliefs sought therein are granted as prayed. Parties shall bear their respective costs.”

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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