Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Jay-Z's Tidal preparing legal action against former owners

01 April 2016, 21:39

Stockholm - A business controlled by rapper Jay-Z has notified the former owners of the Tidal music service of potential compensation claims, saying they overstated the number of subscribers before the sale.

Project Panther Bidco Ltd. bought Tidal's Scandinavian parent company, Aspiro, for $56 million a year ago. But it now says it was misled about how many people subscribed to the service, suggesting the price tag was too high.

"The total number of subscribers was well below the 540,000 reported to us by the prior owners. As a result, we have now served legal notice to parties involved in the sale," Tidal said in a statement.

Also read: Katt Williams faces court appearance after fight with teen

The Norway-based Schibsted Media Group, the biggest of the previous owners, confirmed Friday it had received the letter, adding it disagrees with the accusations and any potential claims.

"Schibsted is of the opinion that the information given by the company Aspiro has been very thorough and open and communicated clearly," it said.

Norwegian financial newspaper Dagens Naeringsliv posted the letter from Project Panther Bidco Ltd. on its website. It says "Panther has suffered significant damage" for which it reserves the right to claim compensation, though it doesn't mention any figures.

Schibsted spokesman Anders Rikter confirmed the letter was authentic.

Tidal says it now has more than 3 million subscribers globally.

- AP


Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...