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Jay Z’s Tidal Just Fired Its COO and CFO

Jay Z’s streaming music service Tidal has just fired its CFO Chris Hart and COO Nils Juell, according to European news reports. The layoffs come at a turbulent time for Tidal, with high-profile releases giving the service some much-needed attention, while acquisition rumors continue to emerge.

The reasons behind the layoffs are murky at best. Swedish news site Breakit reported Tuesday that Hart was let go over a dispute on the way the company reports streaming numbers. Tidal on the other hand tried to paint the move as part of a bigger restructuring, which also involved relocating some key resources: Tidal has also moved its operations and accounting departments to its New York office, the company told The Verge.

High-profile ousters are nothing new for Tidal: The company hired its third CEO in nine months last December.

Tidal has gotten a lot of attention for high-profile exclusives lately, including the release of Kanye West’s album “The Life of Pablo.” Some of that likely has translated into a surge of new users, but it’s unclear how loyal those users will be.

There have been persistent rumors that Jay Z may be looking to sell Tidal, with Samsung being one of the companies being named as a possible suitor. Those rumors were first fueled when Jay Z dropped by Samsung’s Silicon Valley campus for a discussion with key media execs last fall. A few days ago, reports surfaced that the two companies are talking again.

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