Jay-Z selling majority stake of his music streaming service to Twitter CEO

CNN– Rapper and businessman Jay-Z is selling a majority stake of his music streaming service, Tidal to digital payment company, Square. Twitter CEO and Square Founder Jack Dorsey announced the company has agreed to pay $297 million dollars in cash and stock for Jay-Z’s stake.

As part of the deal, Jay-Z will join Square’s board. Dorsey says he hopes to integrate his financial services company with music streaming to find new ways to support music artists during the pandemic.