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Spotify in "advanced talks" to buy SoundCloud

29 September 2016, 09:36 | Written by Laurence Day

Spotify looks set to purchase SoundCloud after reports suggesting the streaming firms were in "advanced talks".

Sources in The Financial Times claim that a public confirmation of the "acquisition" is expected "soon".

There's no word on how this would affect users of either service, or how much the deal would cost Spotify (could it be that magical billion that SoundCloud wanted?). Both companies have refused to comment so far, but in an interview last month, Spotify's CEO Daniel Ek said: "The only thing that’s missing on Soundcloud is the ability to make money from your songs. That has never been Soundcloud’s strength. It is however Spotify’s."

Despite being popular among artists and fans, the SoundCloud has been mired in lawsuits and traditionally struggled to generate revenue - their subscription tier has made little impact in the crowded streaming market.

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