Published Mar 11, 2015Last week, Jay Z's bid to buy Aspiro — the Scandinavian company which owns the streaming services Tidal and WiMP — appeared to have gone belly-up, as minority shareholders were unimpressed with Hova's $56.2 million offer. Now, it turns out that the bid was successful after all.
Swedish news source E24 [via Billboard] reports that minority shareholder rep Sune Karlsson came forward today (March 11) and announced plans to accept the bid. Majority owner Schibsted ASA has already voiced its support of the offer.
Jay Z and his Roc Nation company haven't commented on the purchase, and they haven't confirmed their plans for the new acquisition. Presumably, Jay Z will be using Tidal and WiMP as his springboard into the streaming music market.
Previously, minority shareholders opposed the offer because Jay Z's Project Panther Bidco hadn't detailed its plans regarding international expansion. They was also evidently unconvinced by the amount of money offered.