Music mogul Jay Z reportedly has nearly $60 million up for the purchase of a music streaming service.
Details of the music mogul’s potential big buy landed online Friday (January 30).
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)
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Reports claim if Jay’s successful with his bid, he could effectively raise the company’s profile.
“Project Panther,” a company indirectly owned by Jay Z’s S. Carter Enterprises, has made a bid for Aspiro, a company that runs Tidal, and also a similar service called WiMP. While neither are a household name in the states yet, its WiMP service had over half a million paying subscribers as of last September (before Tidal launched). So it’s not quite competing with Spotify or Beats Music, but it’s getting there, and you’d imagine, once the deal goes through, that Jay Z will start using his popularity to raise Tidal’s profile. (Engadget)
Aside from this news, Jay praised New York’s Governor Andrew Cuomo in a public statement last week.
“The criminal justice reform package proposed by Governor Cuomo today is a huge step forward in restoring fairness, protection, sensitivity and accountability for all under our justice system. I commend Governor Cuomo for his bold leadership in taking this issue head on at this critical time.” (Capitol Confidential)
Jay also talked about the importance of making New York a stronger state.
“This package presents comprehensive steps to protect and improve relations amongst all citizens. We cannot be divided, as every single human being matters. Together, we can move forward as a community, with mutual respect for each other and continue to make this great state stronger than ever before.” (Capitol Confidential)