Sprint took over Tidal one-third stake in $200 million Involved in streaming music market _ _ tengxun net technology

Re/code assigned on January 24
the famous American rapper jay-z and streaming music service for themselves Tidal to find a new owner. But he close to their goals.
the wireless operator Sprint said on Monday that the company has acquired Tidal one-third of the shares. Tidal and Sprint trading did not provide details, saying only that Sprint users “will be able to enjoy the contents of exclusive artist on the Tidal,” and Sprint’s chief executive, marcelo g unquestioned (MarcelO ClaureTidal) will join the board of directors of the Tidal. Billboard, Sprint to the equity of $200 million for the third Tidal, means that the latter valued at $600 million.
sell jay-z Tidal for at least a year. Samsung electronics has previously consider acquiring Tidal, finally chose to give up the deal. After the Sprint equity stakes in a third Tidal, many industry insiders agree that the transaction logic to Sprint capable of holding Tidal in the future.
JAYTidal Z was reasonable. In 2015 $56 million acquisition of the Swedish Aspiro streaming music company, jay-z entered the streaming music industry. But all of the company is currently in streaming music industry are at a loss. For companies like apple, amazon, can use music to promote other products, so the loss of which have no; For like Pandora and services like large streaming music service providers, because get the support of many investors, so temporary losses are also affordable.
but TIdal belongs to jay-z and scale is still small, although the company claims to have 3 million subscribers, but the data is controversial. In this case, for Tidal buyers, or to sell stakes in the company’s cash, is a very wise choice.
Sprint in streaming music market is not so surprising. Sprint, the parent of softbank has been enamored of music business, and softbank has tried to buy universal music, the world’s largest record companies.
as you can imagine, more than a year of practice in the future, Jay Z will all the Tidal residual stocksRight to sell the Sprint, the latter will consider the development of Tidal problem themselves.
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