Rapper Jay Z has bought streaming service Tidal’s parent company, Aspiro, for a reported 464 million Swedish Krona (£37m).

The deal saw Project Panther Bidco, of which Jay Z is the main shareholder via S. Carter Enterprises, LLC, offer the Board of Aspiro a premium of 59.1% on its share price. The bid was announced publicly through a press release this morning (Friday, January 30) and accepted only a few hours later.

The release stated: "Panther believes that the ...