Jay Z issues legal action against former owners of Tidal

Jay Z is reportedly preparing to sue the company he purchased Tidal from, citing he was misled about the amount of users the streaming service had.

The rapper was told there were around 540,000 subscribers when he bought it, then called WiMP, owned by Aspiro, and with little reputation, but his lawyers discovered the figures had been exaggerated.

Although Tidal's users now sit around the three million mark, it's being reported Jay Z is looking to be awarded $15 million for the original misleading information.

Tidal has spoken of its plans moving forward: “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. 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.”

Schibsted has disputed the claims, saying it's “unsympathetic to the letter and any requirements".

[Via: the Guardian]

Dave Turner is Mixmag's Digital News Editor, follow him on Twitter