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Sprint To Purchase 33% Of TIDAL

Sprint will offer its subscribers exclusive content from the streaming service in the new partnership.

January 23, 2017
Sprint To Purchase 33% Of TIDAL

Sprint has announced that it will buy a 33 percent stake in TIDAL, making exclusive content from the streaming service to its 45 million customers. According to Billboard, Sprint purchased its share in the company for $200 million. The partnership between the wireless carrier and the music streaming service, owned by Jay Z, marks a move towards more content driven services for Sprint.

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"Sprint shares our view of revolutionizing the creative industry to allow artists to connect directly with their fans and reach their fullest, shared potential,” Jay Z said in a statement on Monday. “Marcelo understood our goal right away and together we are excited to bring Sprint’s 45 million customers an unmatched entertainment experience.”

Jay Z and the artist-owners of TIDAL will continue to run the company under the new partnership, while Sprint’s chief executive officer, Marcelo Claure, will join TIDAL’s Board of Directors.

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Sprint To Purchase 33% Of TIDAL