A flurry of 99 Problems-related headlines yesterday, as Jay Z’s bid for WiMP and Tidal parent company Aspiro got back on track. The group of minority shareholders in the firm that had been threatening to block the move have changed their opinion, and are now backing it.
“We have together with the major shareholders decided that it is best to accept the bid,” explained their representatives to Norwegian news site E24. Jay Z’s Project Panther Bidco bid $56m for Aspiro in late January, but until yesterday the minority shareholders were arguing that the bid undervalued the company. Aspiro ended 2014 with 500,000 paying subscribers for its streaming services, but reported a loss of $5m for the year.