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Google Did Not Buy Spotify for $41.1 Billion in Cash, Equity Deal

April Fools strikes again. On April 1st, Digital Music News posted an article stating that Google acquired Spotify in a $41.1 billion cash and equity deal. The article quickly went viral and many news sources began to report on the article.

The article stated that the news was “first reported by the Wall Street Journal this morning.” While it seems Google's stock was unaffected, this story could have had massive ramifications on the stock market. Luckily, most people understood it was an April Fools joke from the beginning.

DMN went on to say “Formal signatures and filings will happen Monday. On Saturday, key media outlets were given a preview of the deal. “We’re thrilled to bring Spotify into our family of music properties,” Google Music executive vice president Nathan Rutherford told DMN.”

Spotify's CEO, Daniel Ek, Has Not Been Pushed Out Either

DMN even went on to say that Daniel Ek, the CEO of Spotify, was being pushed out of Spotify.

“I’m thrilled by this acquisition and the belief that Google has placed in us,” Ek offered in a statement. “While we’ve operated as healthy competitors to this point, I think we always considered joining together. We want to help build the future of music consumption and a place for artists to grow.” stated Dance Music News.

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