Sprint buys a Third of Jay Z's Tidal Streaming Serivce

Tidal, the struggling streaming-music service controlled by Jay Z, has sold a one-third stake in its company to Sprint. As part of the deal, Jay Z and the group of artist owners who helped introduce Tidal, including Beyoncé, Madonna, Kanye West and Alicia Keys, will continue to run the service, and Marcelo Claure, the chief executive of Sprint, will join Tidal’s board. “Sprint shares our view of revolutionizing the creative industry to allow artists to connect directly with their fans and reach their fullest, shared potential,” Jay Z said. “Marcelo understood our goal right away, and together we are excited to bring Sprint’s 45 million customers an unmatched entertainment experience.” Tidal’s new partnership will give Sprint customers who subscribe to the streaming service additional content that is only available to them. Sprint, which has 45 million customers, is controlled by SoftBank of Japan.