SAN FRANCISCO (AP) — Financial technology company Square, Inc. says it has reached an agreement to acquire majority ownership of Tidal, the music streaming service partly owned by Jay-Z. Under the deal announced Thursday, Square will pay $297 million in cash and stock for Tidal, Jay-Z will be named to Square’s board of directors, and he and other artists who currently own shares in Tidal will remain stakeholders. San Francisco-based Tidal has presented itself as the artist-friendly alternative to other music streamers, and Square says it will take that phenomenon further for musicians just as it has for businesses with its payment systems.
