Earlier this year, Jay Z put in a bid of $56 million to buy Swedish streaming company Aspiro, and his bid was accepted! Jay is now the owner of the media technology company, adding to his growing empire.
His bid was initially denied by 10% of the company’s shareholders because they were unsure about his plans for international expansion, but they soon accepted his bid to meet the March 11th deadline.
Aspiro controls music streaming services WiMP and TIDAL that has a higher HiFi quality. Music streaming is often named as one of the contributors to a faltering music business, and Jay is getting in on this growing opportunity.
Congrats, Jay! Only a matter of time before we’ll probably be seeing advertisements for the streaming service here in the States.