Recent rumors have been circulating about Jay-Z’s bid on Aspiro’s WiMP streaming service company being denied, but today we found out that this isn’t true–it’s been accepted according to a report made by Swedish news outlet E24.
The bid was reportedly closed at $56.2 Million. The ultimate decision to go with Shawn Carter’s bid was contrary to minority shareholders who believed that his bid undervalued the company, but the minority shareholder rep, Sune Karlsson, offered his detailed exposition on his counsel to accept.
Fredrik Bjorland, who is head of the independent bid committee in charge of reviewing bids before acceptance, gave a statement to E24 via email:
We as a board tried to be as transparent as possible towards minority shareholders so that they could make the best possible assessment of the bid.
Roc Nation has yet to give a statement on the new acquisition, so it’s unclear as to what the plans are for it. Being that Roc Nation is home to a list of many of our stars, we can expect that hosting exclusives through the streaming site will be of its major usage. We also know that it can be beneficial for Jay-Z’s blog, Life + Times, because of the space available for editorial spreads. Nevertheless, we’ll have to wait to hear from a rep of Roc Nation to speak out before we really know what will come from it.
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