Rapper Jay-Z is about to expand his empire more into the music streaming business, a company owned by the rapper has purchased a music streaming service called Tidal and WiMP which is based in Norway. The rapper’s company S. Carter Enterprises LLC has acquired Aspiro AB, the company that owns Tidal and WiMP for the whopping sum of $56 million.
WiMP was launched back in 2010 and is only available in Norway, Sweden, Germany, Poland and Denmark, while you may have heard of the music streaming service Tidal which is available in the United States and the U.K.
The acquisition bid was made under the “Project Panther Bidco Ltd” moniker, according to the press release, which is “indirectly” owned by S. Carter Enterprises (SCE). You’ll note that there’s no mention of Jay-Z in there, but that’s because Jay-Z’s real name is … Shawn Carter.
On 30 January 2015, Project Panther Bidco Ltd (“Panther”), indirectly owned by S. Carter Enterprises, LLC (“SCE”), has, through a press release, announced a public offer to the shareholders of Aspiro to tender all shares in the Company to Panther for a consideration of SEK 1.05 per share in Aspiro (the “Offer”). (Via: Venture Beat)
We have no details on what the rapper have planned for Tidal and WiMP, but as soon as more details surface we’ll keep you guys updated.