If recent reports are to believed, SoundCloud is set to be acquired by none other than Google. Unarguably one of today’s biggest technology giants, the latest piece of rumor doing the rounds comes as a follow-up to streaming giant Spotify‘s recent decision to call off the purchase of SoundCloud which boasted of a buyout price of $1 billion.
As reported by Music Business Worldwide, SoundCloud could now be acquired for somewhere closer to $500 million by Google. Moreover, they also detailed out the stakes of record labels in the company including Universal which boasts of a 4% holding, followed by Sony with 3% and Warner with somewhere between 1% and 2%. According to MBW, “If SoundCloud was sold for $500m, the majors would therefore get a cut of around $45m between them.”
With official updates yet to surface, watch this space for more!
H/T: Music Business Worldwide, Resident Advisor
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