Jay Z recently purchased Aspiro, the company behind streaming services WiMP and Tidal. He purchased Aspiro through Project Panther Bidco, a company he owns.
Jay Z bought 95.18 percent of Aspiro’s shares. This was enough for a compulsory buyout of the entire company, per Chapter 22 of the Swedish Companies Act. Aspiro then applied to delist from Stockholm’s NASDAQ.
Now the name WiMP is being killed. Aspiro will have one music streaming service named Tidal.
Tidal is relaunching on March 30th. The service already offered high definition music, HD music videos, and editorial. After the relaunch Tidal will also house exclusive content, “experiences”, and merch.
Nina Ulloa covers breaking news, tech, and more: @nine_u