Jay-Z seems to be trying to expanding his business portfolio to another level. The Hip Hop Businessman is looking to buy “Aspiro”- a Sweden based music streaming tech company through subscription, which is very similiar to powerhouse “Spotify”, through his company Project Panther Bidco.
“Aspiro is a media technology company in the forefront of the ongoing redefinition of music consumption,” a spokesperson for S. Carter Enterprises tells PEOPLE of the $56 million deal that’s underway. “Panther believes that the recent developments in the entertainment industry, with the migration to media streaming, offers great potential for increased entertainment consumption and an opportunity for artists to further promote their music.”
The deal is not finalized but its alleged that Jay-Z offered $56 million to buy the company. If this deal goes through it will add valuable stake to the Sean Carter Enterprise along with Roc Nation Management, Roc nation Sports Agency and many more ventures.