In March, news emerged that Square, the financial payments system co-founded by Twitter's Jack Dorsey, would acquire JAY-Z's music streaming platform TIDAL.
The deal was finalized on Monday, according to a report from Music Business Worldwide, with Square paying $302 million for an 80% stake in TIDAL.
JAY-Z will likely remain on TIDAL's board as part of the deal. In a statement in March, he said "Artists deserve better tools to assist them in their creative journey.
Jack and I have had many discussions about TIDAL’s endless possibilities that have made me even more inspired about its future." Read Next: Jack Dorsey’s Square to acquire majority stake in JAY-Z’s TIDAL In 2015, JAY-Z purchased TIDAL for close to $56 million.
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