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Jay Z Jumps Into the Swedish Content Stream

Many folks will not have heard of Swedish-based company Aspiro before today. But it’s a whole new ballgame now.

Per a report by UPI writer Veronica Linares, Jay Z has tendered an offer of $56 million to acquire the overseas firm:

Aspiro offers a subscription service called Tidal in the the U.S. that allows users to stream “HiFi quality audio,” magazines and video content. Jay Z – whose real name is Shawn Corey Carter – reportedly
plans to make the purchase thought one of his side ventures, Project Panther Bidco.

“The recent developments in the entertainment industry, with the migration to media streaming, offers great potential for increased entertainment consumption and an opportunity for artists to further promote their music,” said a statement released by Project Panther.

According to Lindares, Streaming Media AS, which owns three-quarters of Aspiro, has accepted the Jay Z offer.

[Screen grab via: aspiro.com]

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