Square to pay $297 mln for majority stake in rapper Jay Z's Tidal

Reuters2021-03-04

March 4 (Reuters) - Payments firm Square Inc on Thursday agreed to buy a majority ownership stake in Tidal, a music streaming service owned by rapper Jay Z, for $297 million in cash and stock.

Square, co-founded by Twitter Inc Chief Executive Officer Jack Dorsey, said Jay Z, whose real name is Shawn Carter, would become a member of Square's board of directors.

"Why would a music streaming company and a financial services company join forces?!... It comes down to a simple idea: finding new ways for artists to support their work," Dorsey said on Twitter.

Square did not disclose the percentage of the ownership stake.

Tidal calls itself an artist-owned service backed by Kanye West, Beyoncé, Madonna, Rihanna and Nicki Minaj among others, and is available in more than 56 countries.

Tidal will operate independently within Square and existing artist shareholders will be the remaining stakeholders, Square said in a statement.

Jay Z bought Tidal for roughly $56 million in 2015.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Ramakrishnan M., Bernard Orr)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Atlee8
2021-03-05
Atlee8
Ok
poobear
2021-03-04
poobear
Are they going to raise the price haha
ccmk
2021-03-04
ccmk
Comment and Like please
redhawk
2021-03-04
redhawk
Song song gao jurong
- Jason138:
  Lolz

Leave a comment

4

21

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2116570226?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-03-04 21:44","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2116570226","market":"us","top_or_hot":-1,"title":"Square to pay $297 mln for majority stake in rapper Jay Z's Tidal","media":"Reuters","content":"<p>March 4 (Reuters) - Payments firm Square Inc    on Thursday agreed to buy a majority ownership stake in Tidal, a music streaming service owned by rapper Jay Z, for $297 million in cash and stock.</p><p>Square, co-founded by <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> Inc    Chief Executive Officer Jack Dorsey, said Jay Z, whose real name is Shawn Carter, would become a member of Square's board of directors.</p><p>\"Why would a music streaming company and a financial services company join forces?!... It comes down to a simple idea: finding new ways for artists to support their work,\" Dorsey said on Twitter.</p><p>Square did not disclose the percentage of the ownership stake.</p><p>Tidal calls itself an artist-owned service backed by Kanye West, Beyoncé, Madonna, Rihanna and Nicki Minaj among others, and is available in more than 56 countries.</p><p>Tidal will operate independently within Square and existing artist shareholders will be the remaining stakeholders, Square said in a statement.</p><p>Jay Z bought Tidal for roughly $56 million in 2015.</p><p>(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Ramakrishnan M., Bernard Orr)</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Square to pay $297 mln for majority stake in rapper Jay Z's Tidal</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSquare to pay $297 mln for majority stake in rapper Jay Z's Tidal\n</h2>\n\n<h4 class=\"meta\">\n\n2021-03-04 21:44 北京时间&nbsp;&nbsp;&nbsp;<strong>Reuters</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>March 4 (Reuters) - Payments firm Square Inc    on Thursday agreed to buy a majority ownership stake in Tidal, a music streaming service owned by rapper Jay Z, for $297 million in cash and stock....</p>\n\n<a href=\"None\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TWTR","symbol_name":"Twitter","start_time":0,"source_url":null,"article_id":"2116570226","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2116570226","pubTimestamp":1614865440,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"March 4 (Reuters) - Payments firm Square Inc    on Thursday agreed to buy a majority ownership stake","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"TWTR":"Twitter","QNETCN":"纳斯达克中美互联网老虎指数","SQ":"Block"},"translate_title":"更新1-Square,Inc将斥资2.97亿美元收购说唱歌手Jay Z的Tidal的多数股权","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"QNETCN":0.9,"SQ":0.9,"TWTR":0.9},"content_text":"March 4 (Reuters) - Payments firm Square Inc    on Thursday agreed to buy a majority ownership stake in Tidal, a music streaming service owned by rapper Jay Z, for $297 million in cash and stock.Square, co-founded by Twitter Inc    Chief Executive Officer Jack Dorsey, said Jay Z, whose real name is Shawn Carter, would become a member of Square's board of directors.\"Why would a music streaming company and a financial services company join forces?!... It comes down to a simple idea: finding new ways for artists to support their work,\" Dorsey said on Twitter.Square did not disclose the percentage of the ownership stake.Tidal calls itself an artist-owned service backed by Kanye West, Beyoncé, Madonna, Rihanna and Nicki Minaj among others, and is available in more than 56 countries.Tidal will operate independently within Square and existing artist shareholders will be the remaining stakeholders, Square said in a statement.Jay Z bought Tidal for roughly $56 million in 2015.(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Ramakrishnan M., Bernard Orr)","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":364743335,"gmtCreate":1614878069627,"gmtModify":1704776529438,"author":{"id":"3570959810686312","authorId":"3570959810686312","name":"Atlee8","avatar":"https://community-static.tradeup.com/news/c489f977595fc5ad3c43665444bae677","vip":1,"crmLevel":2,"crmLevelSwitch":1,"idStr":"3570959810686312","authorIdStr":"3570959810686312"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/364743335","repostId":2116570226,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":364478395,"gmtCreate":1614871657817,"gmtModify":1704776413503,"author":{"id":"3558675649925642","authorId":"3558675649925642","name":"poobear","avatar":"https://static.tigerbbs.com/24ce5566455649c3de6f2993f0c29e29","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3558675649925642","authorIdStr":"3558675649925642"},"htmlText":"Are they going to raise the price haha","listText":"Are they going to raise the price haha","text":"Are they going to raise the price haha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/364478395","repostId":2116570226,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":364412026,"gmtCreate":1614869640265,"gmtModify":1704776334091,"author":{"id":"3575640395742421","authorId":"3575640395742421","name":"ccmk","avatar":"https://static.tigerbbs.com/a90d67ad1fb38a136eae07512ce11d0f","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":5,"crmLevelSwitch":1,"idStr":"3575640395742421","authorIdStr":"3575640395742421"},"htmlText":"Comment and Like please","listText":"Comment and Like please","text":"Comment and Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/364412026","repostId":2116570226,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":364552066,"gmtCreate":1614866950755,"gmtModify":1704776252509,"author":{"id":"3561373875754955","authorId":"3561373875754955","name":"redhawk","avatar":"https://static.tigerbbs.com/a3e1a92e8e83e9aa7611bd56b6f64a1c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3561373875754955","authorIdStr":"3561373875754955"},"htmlText":"Song song gao jurong","listText":"Song song gao jurong","text":"Song song gao jurong","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/364552066","repostId":2116570226,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3715384,"gmtCreate":1614867566843,"gmtModify":1680779152538,"authorId":3575365928794226,"author":{"id":3575365928794226,"idStr":"3575365928794226","authorId":3575365928794226,"name":"Jason138","avatar":"https://static.tigerbbs.com/5ad85b6a3945a01527a3e64577bb8276","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":364552066,"type":1,"supId":0,"prevId":0,"content":"Lolz","text":"Lolz","html":"Lolz"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":21,"commentSize":4,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2116570226"}