Square to Acquire Majority Stake in Jay-Z’s Tidal Streaming Service for $297 Million
Todd Spangler NY Digital EditorSquare, the payments-processing company led by CEO Jack Dorsey, announced plans to buy a “significant” majority stake in Tidal, the music and entertainment streaming platform run by Jay-Z.Square said it expects to pay a $297 million, in a combination of cash and stock, for the Tidal stake, with existing artist shareholders the remaining stakeholders. Tidal will operate independently within Square.