Jay-Z could be going into battle with Apple.
Jay looks set to enter of the music streaming market after tabling a $56 million bid for Aspiro, the Scandinavian company behind WiMP and Tidal. The bid was made by Project Panther, which is owned by the rapper's company S. Carter Enterprises.
Jay-Z has tabled a bid for the Scandanavian streaming company Aspiro
WiMP is a direct rival to Spotify in Scandinavia and a higher resolution version, WiMP HiFi, was rebranded as Tidal for launch in the UK and US in October 2014. Should it go through, the deal would also put Jay-Z into competition with Dr Dre, whose Beats Music was bought by Apple as part of a $3 billion deal in 2014.
Aspiro would join Jay-Z's other lucrative business ventures, including basketball team the Brooklyn Nets, Armand de Brignac Champagne, Rocaware clothing, 9IX fragrances and the Roc Nation sports agency.
As of last year, WiMP had 512,000 paying subscribers, with 20,000 paying for its more expensive version.
A statement from Aspiro's board of directors welcomed the offer.
"The Independent Bid Committee is of the opinion that Panther, indirectly owned by SCE and controlled by Shawn Carter, possesses the proprietary relationships, industry knowledge, as well as economic strength and the necessary commitment in order to realise Aspiro's strategic plan of expanding the Company's business and brand globally," it read.
2015 is shaping up to be a hugely competitive year in the streaming market, with Apple expected to relaunch Beats Music under its iTunes brand in the spring. Spotify is reportedly looking to raise $500 million to fuel growth, while Google is expected to continue its development of its Google Play All Access and YouTube Music Key services.
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