Hi-resolution streaming music service Tidal running out of cash, may close next year

Lossless streaming music service Tidal is reported to be running out of cash, having run up losses of around $ 44M last year. Jay-Z and other owners are said to have lost more than half a billion dollars in all.

Norway’s Dagens Næringsliv says that the company now has only enough cash to last it six months, raising the prospect of the service closing down by the summer – despite a $ 200M investment by Sprint …