Jay Z Set To Drop $56M On Spotify Competitor
A company controlled by rapper Jay Z has launched a $56 million bid for Swedish music streaming company Aspiro.By Nathan Giannini | January 30, 2015
Rapper Jay Z is set to add another asset to his ever-growing music empire, launching a $56 million bid for Swedish music streaming company Aspiro.
Aspiro's main shareholder accepted the bid by Project Panther Bidco Ltd., a company controlled by Jay Z. Aspiro's board has recommended all shareholders agree to the deal.
Aspiro consists of two streaming services. The first, WiMP, is currently only available in a handful of European countries and boasts around 580,000 paying users.