Hip-hop star Jay-Z is buying a Scandinavian music streaming company for $56 million to add to a business empire that has spanned clothing and sports bars.
Project Panther Bidco Ltd, a company controlled by the 45-year-old rapper, said on Friday it had agreed to buy Sweden-listed Aspiro for 464 million Swedish crowns ($56 million) in cash.
Shares in Aspiro, which runs music streaming service WiMP, leapt 59 percent in early trading to the bid level of 1.05 crowns per share.
Jay-Z, real name Shawn Corey Carter, is one of the world’s best-selling music artists of all time, having sold more than 100 million records. Forbes estimated last year that his net worth was $520 million.
Married to pop star Beyonce, Jay-Z has had a number of business interests, including 40/40 Club sports bars and Rocawear clothing.
His mix of music and entrepreneurial interests mirrors that of other rappers, including De Dre, who sold his Beats headphones business to Apple, and 50 Cent, who sold his vitamin water business to Coca-Cola.
Project Panther said it had followed the development of Aspiro for some time, believing it to be “an innovative high-quality company with strong future growth potential”.
Norwegian media house Schibsted, Aspiro’s main shareholder, said it had accepted the offer, while Aspiro’s board said it was united in recommending the bid, virtually ensuring its success.
Schibsted owns around 75 percent of Streaming Media AS, which in turn owns about 76 percent of Aspiro.
After a fatal hit-and-run in Compton, Calif., Suge Knight is being interviewed by officers, the Los Angeles Sheriff’s Department announced early Friday morning (Jan. 30).
The Death Row Records co-founder’s whereabouts were unknown fullowing the incident, in which Knight allegedly got into a confrontation on the set of a Straight Outta Compton promotional shoot and then backed his truck into two people — one fatally — as he fled. Following the hit-and-run, which took place around 3 p.m. PT on Thursday, the Sheriff’s Department issued a bulletin to all Southern California law enforcement saying to be on the lookout for a possibly “armed and dangerous” Knight.
Suge Knight Involved in Fatal Hit & Run
“Suge Knight, a person of interest in a fatal traffic incident in Compton, is at West Hollywood Sheriff’s Station with his attorney and is being interviewed by Homicide detectives,” read a press release from the L.A. Sheriff’s Department to Billboard. “There is no further information at this time.”
LASD confirmed that one of the victims, a 55-year-old man, died at the hospital following the crash. The other, a 51-year-old man, sustained undisclosed injuries. According to TMZ, the late victim was Terry Carter, a friend of Knight’s. Actor Cle “Bone” Sloan was also reportedly struck with the vehicle and received non-life threatening injuries.
Ice Cube, Dr. Dre and the Game were all on set during the altercation.
This is the latest in a string of legal run-ins for Knight. In August, he was shot at a pre-VMA party in Los Angeles, and in October, he and comedian Katt Williams were charged with robbery after a celebrity photographer claimed the men stole her camera.
Iggy Azalea is not exactly head over heels for Steve Madden. The “Fancy” rapper took to Twitter to blast the shoe designer.
Iggy collaborated with Madden on a spring/summer collection of footwear. But she was furious when she saw the creative displayed on Madden’s Tumblr page on Thursday (Jan. 29). According to Iggy, the designer did not consult with her about the model photos that were posted online.
“@SteveMadden kinda ruined the creative direction when u added those gross extra pictures to a random tumbler page I had no part in creating,” said an upset Iggy.
“Everything in a collaboration is supposed to be mutually approved. But Steve madden did the most disgusting photo shoot ever and never even told me about it,” she added. “I’m just now seeing it as its uploaded on some random tumblr page and i am livid.”
She continued to voice her disapproval. “I worked really hard on the creative direction of both the shoes and the shoot I WAS involved with and in. I really feel it’s been tainted with these God awful images that Steve madden took appon themselves to create and share without my knowledge. Gross gross gross.”
For the first time in over 30 years, Eddie Murphy has confirmed rumors recently telling NewsOne Now Thursday afternoon that he will indeed make his return to Saturday Night Live for the 40th Anniversary Special taking place at Studio 8H at 30 Rockefeller Plaza.
The French house that specializes in making outstanding jewelry and watches has pushed the boundaries and mastered the technique that redefines creativity and expertise. The diamond studded dial shakes to give slight movement to the 123 vibrant, brilliant-cut diamonds, totaling 3.46 carats, creating a rippling effect. Though the watch is powered by caliber 430 MC, it’s this unique setting that brings life to this time-telling device.
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