Jay Z Suing Tidal Founders
Jay Z is reportedly suing the former owners of Tidal, claiming they exaggerated its listenership before he purchased the streaming service for $56 million last year.
The rapper is preparing a large compensation claim against Aspiro AB, which is based in Norway and Sweden, according to Norwegian paper Dagens Naeringsliv.
Aspiro AB apparently claimed it had 503,000 subscribers when it was sold to Tidal’s American holding company, Project Panther Bidco.
Jay Z’s Swedish lawyers apparently have sent a letter that there will be a claim from Project Panther Bidco that will be in eight figures. Meanwhile, the company is celebrating 3 million subscribers and 250 million streams of Kanye West’s Life of Pablo.
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