Square is acquiring a majority ownership stake in Jay-Z’s streaming service TIDAL
Jay-Z will join the Square board as part of the deal
Jay-Z and Jack Dorsey announced the blockbuster news via Twitter.
This partnership will be a game-changer for many. I look forward to all this new chapter has to offer!
— Mr. Carter (@sc) March 4, 2021
To all of TIDAL's current listeners and fans: THANK YOU for your loyalty and commitment to artists and their work. TIDAL will continue to be the best home for music, musicians, and culture. Our commitment to you is to constantly listen, learn, and work to make a service you love.
— jack (@jack) March 4, 2021
Hov reportedly sold a majority stake for $297 million. Back in 2015, he purchased the company for $56 million.