Sprint buys 33 percent of Tidal
Less than a year ago, we heard rumors saying that Apple had plans to buy Jay Z's music streaming service, Tidal. Those rumors were denied by Apple, and now we hear about other company buying Tidal, but this is no rumor. However, Sprint only acquires a 33 percent share in Tidal, leaving Jay Z in charge.
According to a statement by Jay Z, "Sprint shares our view of revolutionizing the creative industry to allow artists to connect directly with their fans and reach their fullest, shared potential." Tidal is currently available in more than 52 countries, offering more than 42.5 million songs and 140,000 music videos.
The music streaming service now becomes available for Sprint's 45 million prepaid and post-paid customers, with both Tidal and the carrier being expected to announce various special deals soon. For now, the financial terms of the purchase remain secret, but Sprint CEO Marcelo Claure joins Tidal's board while leaving Jay Z and the other artist-owners in charge.
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