Jay-Z is buying the Scandinavian music streaming company Aspiro—which currently runs two music services—for $56 million, in a bid to take on Spotify.
Aspiro currently runs an ad-free service called WiMP and the high-definition offering called Tidal. Both are aimed at keen music lovers, with track recommendations, curated playlists and interviews with artists. Perhaps most importantly, they also offer audio available to stream and download in the lossless FLAC format.
