Jay-Z just dropped $56 million on a Scandinavian streaming company

January 30, 2015 11:54 AM

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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, which runs the music streaming services WiMP and Tidal, for 464 million Swedish crowns ($56 million) in cash.

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