Square to buy Jay-Z’s Tidal music service and appoint him to the board
Square has agreed to buy a majority stake in Tidal, the streaming music service led by rapper Jay-Z, as part of an effort to expand the companys suite of financial tools to musicians and emerging artists.
Square will pay $297 million in a mix of cash and stock to become Tidals significant majority owner, though Jay-Z and Tidals other existing artist-shareholders will retain some ownership in the company. Tidal will operate independently within Square, according to a company release, and Jay-Z will…
