Cyrus Langhorne
Music mogul Jay Z's hefty $56 million bid for Swedish music company Aspiro has reportedly been accepted following a star-studded meeting with pals like The Throne sidekick Kanye West.
Investment company Project Panther Bidco, which Jay used to help make the bid, has issued a statement on the acquisition.
“All conditions for completion of the offer have been fulfilled, and the offer is therefore declared unconditional,’’ Project Panther said in a statement. “Accordingly, Panther will complete the acquisition of the shares tendered in the offer.” The statement did not offer details on the “99 Problems” rapper’s intentions for the streaming technology beyond a January statement about plans for “global expansion and upscaling of Aspiro’s platform, technology and services.” (NY Daily News)
Check out this star-studded meeting Jay held on the next page…
According to reports, Hov recruited a handful of music stars to discuss the streaming service.
Sources tell me that a few days before the Grammy Awards in February, the rap entrepreneur (real name Shawn Carter) hosted a group of music superstars at an all day meeting. The guests were like a meeting of the music version of the Avengers or Justice League of America. They included Madonna, Kanye West, Daft Punk, Nikki Minaj, Chris Martin of Coldplay, Jack White and of course, wife Beyonce. “Rihanna came in at the end,” one source said. “They all kept saying, Where is Rihanna?” At least two country music stars attended as well. (Showbiz 411)
Jay’s $56.2 million bid for Swedish music streaming company Aspiro was recently accepted.
The bid had been questioned by minority shareholders, before minority shareholder representative Sune Karlsson detailed today his recommendation to accept. The bid was strongly supported from the first by majority shareholder Schibsted ASA. “We as a board tried to be as transparent as possible towards minority shareholders so that they could make the best possible assessment of the bid,” wrote Fredrik Bjorland, head of the independent bid committee in charge of reviewing the offer ahead of its acceptance, in an email to E24. (Billboard)
Details of the music mogul’s big bid landed online in late January.
The Scandinavian press is buzzing right now with the news that Jay Z is buying the Norwegian company behind the high-quality music streaming service Tidal. The rapper and entrepreneur made a 464 million Krona (roughly $56 million) bid which the company’s reviewing board has already reviewed. It’s recommending all its shareholders accept the offer. (Engadget)
Power move…. #Respect
Jay never puts up his own money
Smart move on his behalf. I can see him selling this company to Apple’s rival for a hefty price tag in a couple years.
Just hawaiin shirts, hanging with lil chase