Jay Z Suing Former TIDAL Owners For Estimated $15 Mil For Finessing Him

[JordanWearinThe45]

Thought Tidal couldn't get any more controversial? You were wrong.

Jay Z is preparing what the Nordic business press is calling a "giant lawsuit" against the former owners of the streaming service Tidal — and trying to claim back a sum in the "region of 100 million."

The rapper and business mogul has written to several of the former major shareholders in Tidal/WiMP owner Aspiro, accusing them of exaggerating how many subscribers the service had when his finance vehicle, Project Panther Bidco, bought the company at the start of last year.

If, as expected, that 100 million estimate is in Norwegian krone, it would amount to about $15 million.

Jay Z bought Tidal and its parent company Aspiro for 464 million Swedish krone ($57 million) in March last year.

According to the Swedish news service BreakIt — quoting an article in the Norwegian title Dagens Næringsliv ("Today's Business") — Aspiro's former major shareholders, including Schibsted and Verdane, have been contacted by reps for Tidal.

Jay Z reportedly claims that the figure his team were given for worldwide subscribers of the company in January 2015 — 503,000 — was misleading.

In addition, he claims that Wimp's business was in much worse condition than what was indicated in the statements he received at the time.

Jay Z has launched a 'giant lawsuit' against the former owners of Tidal

Hope he wins that shyt

 

[Not The Ruler O9]

Jay mad as fukk

 

[Hiphoplives4eva]

Instead of building an empire with Dame, he flees to Europe and got finessed by them nordic cacs for a bootleg music streaming service. Sad day. Should have used the 57mil and created a music and movie publishing and production company for new artists.

Moron is just hustling backwards.

 

[No1]

Instead of building an empire with Dame, he flees to Europe and got finessed by them nordic cacs for a music streaming service. Sad day. Should have used the 57mil and created a music and movie publishing and production company for new artists.

Moron is just hustling backwards.

This dude

 

[Escobar305]

"nikka said Hova was over, such dummies. Even if I fell I land on a bunch of money."

 

[Robbie3000]

His advisers on the due diligence.

Truthfully he should have just took stock compensation for repping Apple or Spotify and avoid the headache of having to actively manage an internet business that is not really in his wheelhouse.

 

[No1]

His advisers on the due diligence.

Truthfully he should have just took stock compensation for repping Apple or Spotify and avoid the headache of having to actively manage an internet business that is not really in his wheelhouse.

They're at 3 million subscribers right now though

 

[JordanWearinThe45]

Instead of building an empire with Dame, he flees to Europe and got finessed by them nordic cacs for a bootleg music streaming service. Sad day. Should have used the 57mil and created a music and movie publishing and production company for new artists.

Moron is just hustling backwards.

 

[Run Up]

They're at 3 million subscribers right now though

Thanks to Yeezy

 

[Illeye buckmatic]

:naswon:

 

[Illeye buckmatic]

On the real I hope the black man comes out on top

 

[L. Deezy]

Instead of building an empire with Dame, he flees to Europe and got finessed by them nordic cacs for a bootleg music streaming service. Sad day. Should have used the 57mil and created a music and movie publishing and production company for new artists.

Moron is just hustling backwards.

like Dame is a real business mind... lmaoooooooooo

y'all kill me on here


Where are your quarts of Motor Oil from Dash Motors? Ill Wait....

 

[Batter Up]

He should've double checked the paperwork before he dived into the deal

 

[Hiphoplives4eva]

like Dame is a real business mind... lmaoooooooooo

y'all kill me on here


Where are your quarts of Motor Oil from Dash Motors? Ill Wait....

Dame has the perfect attitude to run a Fortune 500 company. He may be a bit disorganized, but he could pull it off with the right resources.

If Jay wasn't on his Jew-Z shyt, they could have really built a powerful empire. Hell, Roc-a-Fella could have built a streaming service and it would have been alot more successful than this Tidal bullshyt.

 

[Robbie3000]

They're at 3 million subscribers right now though

Spotify has 20 million subs and they have yet to turn a profit. There are alot of people who think streaming services are a poor investment because of the high cost of the music.