The company Panther, which is owned by rapper Shawn Carter, better known as Jay Z, has purchased the company Aspiro at a cost of 464 million Swedish kronor.
Aspiro is best known for conducting flow service Wimp.
Schibsted owns about 75 percent of the shares in Streaming Media AS, which owns 76 percent of shares in Aspiro.
MOGUL: Shawn Carter, alias Jay-Z, manages the company Panther, which has now acquired Aspiro.
– Not core business
Trond Berger, EVP and CFO of Schibsted, says there is great potential for further growth of Aspiro. But to grow, they need significant capital, as well as a strong and dedicated owner to compete in the global market for musikkstrømming.
He said that Aspiro is not regarded as a core activity for Schibsted, and that they want to move financial resources. NRK says Berger that they are very satisfied with the services they have received for Wimp and Aspiro.
– Schibsted has a strategy that is linked to media business and international classifieds. We will sharpen our strategy in these areas. For Wimp is better that a forceful owner with music heartland continuing product says Berger.
NOT CORE BUSINESS: Trond Berger Schibsted believes that Jay-Zs company will be better suited to lift Aspiro with its advanced music streaming service to a new level.
The powerful owner in question, is therefore the 45-year-old rapper and producer Jay-Z. Shawn Carter, as he was originally called, is already a very successful businessman and entrepreneur. He has a net worth of over 4 billion, and has been the owner of everything from clothing brands and basketball to real estate and record companies.
– Not clear the company to expand
In December wrote Dagens Næringsliv that Wimp planned to conquer the US market. Wimp has over half a million subscribers, mostly in Norway and Sweden.
The company has 12.5 million paying subscribers and over 50 million active users in 58 markets, according to its own website.
Editor Knut Kristian Hauger in Campaign says this about sales:
– Aspiro and Wimp is over start-up phase, and perhaps they have assessed that they have got a good deal on the shares and choosing selling because musikkstrømming not a core business with Schibsted. The company has not managed to lift Wimp further and that is probably why they have chosen to sell out, he says to NRK.no.
Neither Fredrik Bjorland, Director of Aspiro, or Trond Berger , Executive Vice President and CFO of Schibsted, has been available for a comment.
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