![]() Jay-Z said in the statement that the “partnership will be a game-changer for many. “It comes down to one simple idea: finding new ways for artists to support their work,” Dorsey said in the statement announcing the deal. Tidal has presented itself as the artist-friendly alternative to other music streamers, and Square says it will take that phenomenon further for musicians just as it has for businesses with its financial systems. ![]() ![]() Having its own bank gives Square more purchase in the financial world. If theres a theme around the moves, its control. Tidal will operate as a distinct entity alongside the point-of-sale hardware and software offerings of San Francisco-based Square, the payments company founded by CEO Jack Dorsey, who is also co-founder and chief executive of Twitter. On Thursday, Dorsey announced Square was taking a majority stake in Tidal, the music-streaming service backed by Jay-Z, for 297 million. Under the deal, Square will pay US$297 million in cash and stock for Tidal, Jay-Z will be named to Square's board of directors, and he and other artists who currently own shares in Tidal will remain stakeholders. SAN FRANCISCO, United States (AP) - Financial technology company Square, Inc said Thursday that it has reached an agreement to acquire majority ownership of Tidal, the music streaming service partly owned by Jay-Z. In this July 23, 2019, file photo, Jay-Z makes an announcement of the launch of Dream Chasers record label in joint venture with Roc Nation, at the Roc Nation headquarters in New York.
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