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2021-03-04

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Square to pay $297 mln for majority stake in rapper Jay Z's Tidal

March 4 (Reuters) - Payments firm Square Inc on Thursday agreed to buy a majority ownership stake

Square to pay $297 mln for majority stake in rapper Jay Z's Tidal

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It comes down to a simple idea: finding new ways for artists to support their work,\" Dorsey said on Twitter.</p><p>Square did not disclose the percentage of the ownership stake.</p><p>Tidal calls itself an artist-owned service backed by Kanye West, Beyoncé, Madonna, Rihanna and Nicki Minaj among others, and is available in more than 56 countries.</p><p>Tidal will operate independently within Square and existing artist shareholders will be the remaining stakeholders, Square said in a statement.</p><p>Jay Z bought Tidal for roughly $56 million in 2015.</p><p>(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Ramakrishnan M., Bernard Orr)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TWTR":"Twitter","SQ":"Block","QNETCN":"纳斯达克中美互联网老虎指数"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2116570226","content_text":"March 4 (Reuters) - Payments firm Square Inc    on Thursday agreed to buy a majority ownership stake in Tidal, a music streaming service owned by rapper Jay Z, for $297 million in cash and stock.Square, co-founded by Twitter Inc    Chief Executive Officer Jack Dorsey, said Jay Z, whose real name is Shawn Carter, would become a member of Square's board of directors.\"Why would a music streaming company and a financial services company join forces?!... 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Square to pay $297 mln for majority stake in rapper Jay Z's Tidal

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