Sprint Purchases 33% of Jay Z's Tidal streaming service

Sprint Purchases 33% of Jay Z's Tidal streaming service

Sprint has agreed to acquire 33% of Jay Z’s Tidal as part of a partnership that will give the carrier’s customers access to the app’s exclusive music content.

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A source familiar with the deal said Sprint paid around $200 million for the stake and also committed to a $75 million annual artist marketing fund.

Sprint’s chief executive officer, Marcelo Claure, will also join Tidal’s Board of Directors. In exchange for its new ownership stake, TIDAL has inked a deal with Sprint which it says will “make exclusive content that will only be available to current and new Sprint customers”

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