Jay Z’s Swedish Streaming Service Bid Reportedly Accepted
The Carters are about to have even more money in the bank (if that’s even possible at this point). In a report from Swedish news outlet E24, Jay-Z’s recent bid for Swedish music streaming service Aspiro’s WiMP was accepted. The bid reportedly closed at $56.2 million.
Minority shareholders were not in sync on their decision to accept Hov’s bid, however, minority shareholder rep Sune Karlsson offered a detailed explanation earlier today.
“We as a board tried to be as transparent as possible towards minority shareholders so that they could make the best possible assessment of the bid,” Fredrik Bjorloand wrote, who serves at the head of the independent bid committee in charge of reviewing offers for acceptance.
Some suggest the streaming software will be used to push out exclusives from Roc Nation’s laundry list of music starts. WiMP also gives space for editorial spread, which would come in handy for Jay’s blog, Life + Times.
Reps from Roc Nation have not responded for a comment as yet. – Cook T.P.