Sprint announced earlier today that they purchased a 33% stake in TIDAL, the deal cost the company about $200 million dollars.
According to Vibe.com:
The newly found partnership will make exclusive Tidal content available to Sprint’s more than 45 million consumers across the country. The company’s CEO, Marcelo Claure will be joining TIDAL’s Board of Directors, “Jay saw not only a business need, but a cultural one, and put his heart and grit into building TIDAL into a world-class music streaming platform that is unrivaled in quality and content,” Claure said. “The passion and dedication that these artist-owners bring to fans will enable Sprint to offer new and existing customers access to exclusive content and entertainment experiences in a way no other service can.”
Hip-hop mogul Jay Z added, “Sprint shares our view of revolutionizing the creative industry to allow artists to connect directly with their fans and reach their fullest, shared potential. Marcelo understood our goal right away and together we are excited to bring Sprint’s 45 million customers an unmatched entertainment experience.”
JAY Z bought Tidal for $58 million and Sprint just gave him 200 million for 1/3 of it. Now it's worth 600 million. pic.twitter.com/3eXiMQ1mWw
— Beysus † Godga (@GagaLovesBey) January 23, 2017