Square Acquires Majority Stake in Jay-Z’s Tidal in $297 Million Deal

It was announced on Thursday (March 4) that Square, the mobile payments company founded by Twitter’s Jack Dorsey, is acquiring a majority stake in Jay-Z’s Tidal. Dorsey tweeted on Thursday, “Square is acquiring a majority ownership stake in TIDAL through a new joint venture, with the original artists becoming the second largest group of shareholders, and JAY-Z joining the Square board. Why would a music streaming company and a financial services company join forces?!” It was revealed that the deal includes a mix of cash and stock of $297 million for…

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