Square, the mobile payments company co-founded by Twitter's Jack Dorsey, is acquiring a majority stake in Jay-Z's Tidal music streaming platform.
Square will pay a mix of cash and stock in the amount of $297 million for a significant majority ownership stake.
Existing artist shareholders will be the remaining stakeholders.
Jay-Z will join Square's Board of Directors.
The deal will close in the second quarter of 2021.
The Square headquarters is downtown Oakland, think we'll see Jay-Z rolling around the Town anytime soon?