Jay Z is set to become the next big digital music mogul after making a $56m bid for Aspiro, the Scandinavian company behind streaming services WiMP and Tidal.
The bid made by Project Panther, which is indirectly owned by the rapper’s company S. Carter Enterprises, has been recommended to shareholders by Aspiro’s board. Jay Z appears to keep winning. He has all the right people in the top places making this deal happen. Kudos to Jay Z.
The deal will pitch Jay Z into direct competition with Beats Music, the streaming service co-founded by Dr Dre, which was bought by Apple as part of a $3bn acquisition of its parent company Beats Electronics in 2014.
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