![]() ![]() Square was primarily advised by Gibson Dunn & Crutcher LLP as legal advisers and Tidal was advised by Reed Smith LLP and Cummings & Lockwood LLC as legal advisers. Tidal board member and shareholder Shawn Carter, also known as Jay-Z, is expected to join Square's board subject to the deal's closing, and all of Tidal 's artist shareholders will continue to be co-owners of Tidal.Īs of now, Tidal's financial results are not expected to have a material impact on Square's consolidated revenue or gross profit in 2021. The transaction is expected to close in the second quarter.īloomberg News reported in late 2020 that Square was in talks to acquire the music streaming service.įollowing the deal, Tidal will operate independently within Square, alongside the Seller and Cash App ecosystems. Square expects to pay a mix of cash and stock of $297 million for the stake, and existing artist shareholders will be the remaining stakeholders. Payments firm Square Inc (SQ.N) agreed on Thursday to buy a majority stake in rapper Jay-Zs Tidal music streaming service for 297 million in a deal that could popularize blockchain or other new. Tidal is worth 297 Million Dollars Huh I would have been much less surprised if. Square has reached a deal with Jay-Z to take control of Tidal in an attempt to rejuvenate the struggling music streamer. has agreed to acquire a significant majority ownership stake in global music and entertainment platform Tidal Music AS. Square to buy majority stake in Jay-Zs Tidal streaming platform for 297M.
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