
Dorsey says he is buying Tidal to find new ways for artists to make money. The two moguls have met multiple times in the last year, including in Hawaii and the Hamptons. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Payments firm Square Inc agreed on Thursday to buy a majority stake in rapper Jay-Zs Tidal music streaming service for 297 million in a deal that could popularize blockchain or other new. has agreed to buy a majority stake in Tidal, the streaming music service led by rapper Jay-Z, as part of an effort to expand the company’s suite of. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. “New ideas are found at intersections, and we believe there’s a compelling one between music and the economy,” said Dorsey.Market holidays and trading hours provided by Copp Clark Limited. What started as a conversation led to a sense of common purpose.

Jesse Dorogusker, a Square executive told the NYT that the two began to discuss the transaction a few months ago. Jay-Z revealed that he’d had “many discussions” with Jack Dorsey, co-founder and CEO of Square, about TIDAL. Square sees an opportunity…to help musicians find new ways to support their work and make better decisions through TIDAL.” “The acquisition extends Square’s purpose of economic empowerment to a new vertical: musicians. “Square has helped millions of businesses start, run, and grow by providing them with tools needed for success,” the company said. Post-acquisition, TIDAL will operate independently within Square, alongside the Seller and Cash App ecosystems. The transactions reflect the intense competition in the music streaming industry, with big, listed names such as Apple (NASDAQ: AAPL), Amazon (NASDAQ: AMZN), and Spotify (NYSE: SPOT) calling the shots. These shares will likely head for Square, according to the NYT. Preparatory to the deal with Square, Jay-Z bought back those shares from T-Mobile (NASDAQ: TMUS). He sold a third of TIDAL to Sprint (now T-Mobile) in 2017 on undisclosed terms.


These include Beyoncé, Jay-Z’s wife, and Rihanna. Jay-Z acquired TIDAL in 2015 for $56 million in partnership with other artists. Existing artist shareholders will be the remaining stakeholders, the announcement said, and Shawn “JAY-Z” Carter would be named to Square’s board of directors. Square Inc (NYSE: SQ), the payments giant, announced today its acquisition of a majority interest in TIDAL, the audio and video streaming platform led by Jay-Z, for $297 million in cash and stock. Square extends its mission of economic empowerment to musicians.
