Company Connected to Jay-Z’s Tidal Streaming Service Took Millions in PPP Loans (EXCLUSIVE)
Reading now: 263
variety.comJem Aswad Senior Music EditorUPDATED: Malibu Entertainment, a company connected to Jay-Z’s Tidal streaming service, was among the businesses applying for and accepting Paycheck Protection Program loans for between $2 million and $5 million, according to documents released by the Small Business Administration and Treasury Department; a source close to the situation tells Variety the loan was for $2.1 million.
The loans are part of the federal government’s $2 trillion CARES act to assist small businesses impacted by the coronavirus.The loan was approved on April 7, shortly after Tidal and Roc Nation, Jay-Z’s entertainment joint venture with Live Nation that shares addresses and apparently some other functions with the streaming service, laid.
Read more on variety.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
