Spotify isn’t buying SoundCloud after all – report
The long-touted music streaming mega merger between Spotify and SoundCloud may not be happening after all.
TechCrunch sources say Spotify is backing out talks to buy SoundCloud over fears the purchase may affect the former’s rumoured forthcoming IPO.
Back in September, the Financial Times reported the two streaming giants were in “advanced talks,” but today’s report says the “deal died this past week.”
The source said Spotify “doesn’t need an additional licensing headache in a potential IPO year.”
SoundCloud has long been a home for emerging artists as well as aspiring DJs posting their own musical mixes.
Spotify is yet to confirm that it will even float in 2017, but speculation has been rife for the last couple of years.
Neither company has responded to request for comment at this time.
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