HE NOW OWNS SWEDISH COMPANY ASPIRO
Back
in January, Jay
Z bid $56 million on Aspiro,
a Swedish company behind two high-fidelity music streaming services, WiMP and Tidal. At the beginning of March, Billboard reported
that minority shareholders controlling 10% of Aspiro's shares were
considering blocking the bid. Now, it appears that the bid has been accepted,
as Billboard reports,
citing the
Swedish publication E24.
The minority shareholders
initially recommended that the bid be rejected after questioning Jay Z's plans
for international expansion. They also questioned his valuation of the company.
However, it appears their concerns were allayed before the March 11 deadline to
seal a deal.
It isn't clear what Jay Z
plans to do with the streaming services.
Read Station to
Station, Eric Harvey's piece on the history of streaming music. And read
Mark Richardson's "The
Myth and the Reality of the $43 Download", about high-quality audio.
No comments:
Post a Comment