Tidal gets minority stakeholder at $250M price tag

Tidal canvasThe flood of news for Tidal continues apace today. The latest update is that the hi-res streaming service helmed by Jay-Z has found a new stakeholder in Sprint and its parent company SoftBank. Unnamed sources told the New York Post that the minority stake is likely worth about $250 million.

Tidal has reportedly held talks with SoftBank and private-equity firm KKR to discuss raising money. Considering that Jay-Z purchased the platform for a mere $56 million, quickly getting high-profile supporters to the tune of that many millions is a nice vote of confidence.

The round-up of recent news for Tidal includes a formal relaunch of the service as an artist-centric streaming platform, a Q&A with Jay-Z, and some serious misadventures with offering exclusive content.

Anna Washenko