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Square To Acquire Majority Interest In Tidal For $297 Million

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Square To Acquire Majority Interest In Tidal For $297 Million
March 4, 2021 at 5:29 AM (PT)
Acquired By Square
SQUARE, INC. is acquiring a majority ownership stake in JAY-Z s TIDAL for $297 million in cash and stock, with existing artist shareholders as the remaining stakeholders. TIDAL will operate as an independent division of SQUARE alongside the Seller and Cash App divisions. JAY-Z will join SQUARE s board under the terms of the deal.
“It comes down to one simple idea: finding new ways for artists to support their work,” said SQUARE CEO JACK DORSEY. “New ideas are found at intersections, and we believe there’s a compelling one between music and the economy. I knew TIDAL was something special as soon as I experienced it, and it will continue to be the best home for music, musicians, and culture.” ....

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