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Square, the mobile payments firm run by Jack Dorsey, Twitter’s co-founder, has acquired a majority stake in Jay-Z’s Tidal audio and video music streaming service in a $297m deal. Under the terms of the deal, Tidal’s superstar co-owners, who include Beyoncé, Madonna and Rihanna, will retain their stakes and become the second largest shareholders. Jay-Z will join Square’s board of directors. It is the second deal in as many weeks for the rapper.