Hip-Hop legend and entrepreneur Jay-Z, who recently offered £36 million for Aspiro, a Swedish music streaming company, has finally acquired enough shares of the company to take it over, as competition for Aspiro intensifying in the last few weeks. For the last few months of the past year, Aspiro had reportedly been losing up to $5 million and admitting to potentially becoming bankrupt if their lack of profits had continued.
Luckily, one of the most prestigious music artists of our time, Jay-Z, had managed to get his offer for the business accepted, putting himself in direct competition with Beats Music, a streaming service bought for $3 billion by Apple. The offer from rap artist Jay-Z, real name Shawn Carter, had been pending since January but it wasn’t until Wednesday when it received 90% approval from all shareholders. Although Jay-Z has not revealed any forthcoming plans for the business, it seems that his main interest may have something to do with high-definition audio, a competitive strategy perhaps?
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