Jay Z is building his Roc Nation empire. The rapper and business man made a bid for the music streaming company Aspiro. We have never heard of the music streaming company until now however, Jay Z made a bid for the company through through his company Project Panther Bidco.
According to the statement, negotiations began in December, and Jay Z’s offer — representing a 59 percent premium over the stock’s closing price on Thursday — has already received preliminary acceptance by Aspiro’s board.
“Panther believes that the recent developments in the entertainment industry, with the migration to music and media streaming, offers great potential for increased entertainment consumption and an opportunity for artists to further promote their music,” “Panther’s strategic ambition revolves around global expansion and up-scaling of Aspiro’s platform, technology and services.”
In addition to giving Jay Z control of Aspiro’s two services, WiMP and Tidal, the deal would most likely offer an expanded profile for his entertainment and sports company, Roc Nation. Shawn Carter will be a billionaire before you know it.