Jay-Z Makes $56 Million Bid for Scandinavian Music Streaming Company Aspiro
Jay-Z is looking to do it again! The rapper and business mogul has made a $56 Million dollar bid to purchase Scandinavian company Aspiro. Aspiro is a media technology company that streams music through subscription. The company is said to be similar to Spotify, and should the deal officially close, may become it’s ultimate competitor.
Jay Z and his companies see the move to Net streaming of music and video as something listeners want — and a way to promote artists’ music, says Peter Globokar, managing director of mergers & acquisition advisory firm Mooreland Partners, which is advising Aspiro.
The move fits with Aspiro’s need to continue its international expansion, he said in a statement. “While the offer is in its early days, once completed it will likely lift Aspiro and its advanced music streaming service to a new level,” Globokar said.