Jay Z’s $56 Million Aspiro Bid Accepted
Jay Z’s $56.2 million bid for Swedish streaming company has been accepted, according to a report in Swedish news outlet E24. Roc Nation representatives did not immediately respond to a request for comment.
Why Jay Z’s Streaming Purchase Is a Very Smart Move
The bid had been questioned by minority shareholders, before minority shareholder representative Sune Karlsson detailed today his recommendation to accept. The bid was strongly supported from the first by majority shareholder Schibsted ASA.
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“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,” wrote Fredrik Bjorland, head of the independent bid committee in charge of reviewing the offer ahead of its acceptance, in an email to E24.
There’s been little indication of Shawn Carter and Roc Nation’s plans for his new acquisition, though artist exclusives from Roc Nation’s long list of major stars is a reasonable expectation. As well, Aspiro’s WiMP platform already provides ample space for editorial, which would dovetail nicely with Carter’s Life + Times blog.
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