Jay Z Sues Former TIDAL Owners
Jay Z is suing the former owners of TIDAL, claiming that they presented him with inflated subscription data when he purchased the company last year. Now, Jigga is seeking $15 million from the streaming service’s ex-owner, Aspiro, and its major shareholders, Schibsted Media Group and Verdane Capital.
“It became clear after taking control of TIDAL and conducting our own audit that the total number of subscribers was actually well below the 540,000 reported to us by the prior owners,” TIDAL told USA Today in a statement. “As a result, we have now served legal notice to parties involved in the sale. While we cannot share further comment during active legal proceedings, we’re proud of our success and remain focused on delivering the best experience for artists and fans.”
