1. Akshay Masand's Avatar

    Popular rap icon Jay Z (also known as Shawn Carter) has been reported by The New York Times to have taken control over Aspiro, a Swedish Internet firm that markets streaming services Tidal and WiMP. These two subscription streaming services are competitors to Apple Beats Music, and it was noted that Carter bid $56 million for the company using an investment entity. According to The New York Times,

    "All conditions for completion of the offer have been fulfilled, and the offer is therefore declared unconditional,'' Project Panther said in a prepared statement. "Accordingly, Panther will complete the acquisition of the shares tendered in the offer."
    Since Aspiro is a Sweden public trading firm, 90% of shareholders need to approve the acquisition. It was noted that those interested had until Wednesday to decide and investment entity Project Panther announced that the bid was successful on Friday. Carter has yet to announce why he acquired that the subscription streaming service, but now there will be another competitor to Spotify and Apple Beats Music. Do you think Jay Zís acquired company will be a hit and be successful? Let us know in the comments below.

    Source: The New York Times

    Twitter: @AkshayMasand
    2015-03-14 05:58 PM
  2. exNavy's Avatar
    Can anyone confirm that Jay Z is going to rename WiMP to ChUMP to make it more profitable? So the next step is for the most successful streamer to either run their competitors out of business or buy them. Eventually the whole world will come down to Company A and Company B.
    2015-03-14 07:48 PM
  3. gldoorii's Avatar
    I dunno, but I can confirm I've never heard of this service...so...meh.
    2015-03-15 12:33 AM
  4. FrankJL's Avatar
    Come on people, this is not about growing another streaming service. This has buyout/acqusition written all over it.

    High fidelity streaming is going to be the next thing. Jay-z just lined himself perfectly. A few years ago the deciding factor tgo streaming music was discovery to this day that phase is still going on. The next deciding factor is going to be quality.

    I highly doubt jay-z and his investors thought about competing against google, microsoft, apple. They are thinking sale!!!
    2015-03-17 07:22 PM