Source: Kevin Mazur / Getty
Square, the mobile payments company co-founded by Twitter’s Jack Dorsey, is acquiring a majority stake in Jay-Z’s Tidal music streaming platform. Square will pay a mix of cash and stock in the amount of $297 million for a significant majority ownership stake. Existing artist shareholders will be the remaining stakeholders.
Jay-Z will join Square’s Board of Directors.
The deal will close in the second quarter of 2021.
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