Sprint Buys $200 Million Stake in Tidal, Jay Z’s Music Streaming Service

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According to reports, the fourth-largest U.S. wireless carrier Sprint has taken a 33 percent stake in Jay Z’s streaming service, Tidal. Sprint will use the streaming service to attract more customers with exclusive content.

The deal, which the  Wall Street Journal reports to have cost Sprint $200 million, will allow Sprint’s 45 million “post and prepaid” retail customers will now have access to Tidal, with company CEO Marcelo Claure joining Tidal’s board of directors.

Jay Z said in a statement:

“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.”

Image: YouTube

 

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