NOOOOoooo!! Jay Z is not buying Hot 97! But the hype from the rumor surely brought media attention to any of his future business endeavors. Jay Z is currently in the process of buying Swedish Streaming Company, Aspiro....
Aspiro is the direct competitor to popular streaming service Spotify. And if you have been paying attention to the direction music has been releasing lately, streaming services are becoming the primary sharing entity for showcasing new album leaks. If Jay Z's $56 million dollar offer is accepted he would become the owner Aspiro's services WiMP and Tidal, the direct competitors to Spotify, Deezer, Rdio, Rhapsody and even YouTube.
According to the statement, 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.
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