Think Apple is Buying Spotify? Think Again

On Monday, the rumor mill said Apple was buying Sony, and on Tuesday it had moved on to the music streaming service Spotify. Just like the Sony buyout reports, word that Apple is buying Spotify is off-base, too.

The rumor that Apple and Spotify are in buyout negotiations started at TechCrunch. “Apple and Spotify are in on-again, off-again discussions about an acquisition, but at best it’s very early in the process,” the report said.

The rumor made its way to TechCrunch via an anonymous source.

Apple buying Spotify? Nope.

Spotify, however, claims the rumor is simply wrong. “We wouldn’t normally comment on this kind of speculation, but we wanted to make it clear that we have absolutely no intention of selling Spotify,” Spotify spokesman Jim Butcher told CNET News.

He added that Spotify and Apple have never entered negotiations.

Apple CEO Steve Jobs indicated that some acquisitions may be on the way when he said “We strongly believe that one or more very strategic opportunities may come along, that we can take, that we’re in a unique position to take advantage of because of our strong cash position,” during the company’s fourth quarter earnings report. He didn’t, however, drop any hints to indicate which companies Apple might have its eye on.

Since Apple has US$51 billion in the bank and people are speculating daily on where that cash will be spent, expect to see even more bogus rumors on which companies are getting bought before an official announcement is made.