Friday, January 30, 2015

[MUSIC NEWS]: JAY Z MAKES $56 MILLION BID FOR MUSIC STREAMING COMPANY 'ASPIRO'


Look out, Spotify. Jay Z is entering the music streaming business by acquiring Swedish tech company Aspiro.

Project Panther, which is owned by Jay Z’s S. Carter Enterprises, has bid $56 million to buy the publicly-held company, reports TechCrunch.



Norwegian media company Schibsted, which owns a majority share in Aspiro, accepted the bid Friday while Aspiro’s board has “unanimously recommended” that shareholders accept the offer.

The acquisition would expand Jay Z’s Roc Nation empire, which already includes entertainment and sports divisions.

Jay Z is not the first rapper to take on music streaming. Dr. Dre launched his Beats Music service, which was acquired by Apple in a $3 billion deal last year.

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