By John Glenday

US rapper Jay Z has said he is ready to sue media group Schibsted and venture capital firm Verdane for exaggerating Tidal’s user numbers ahead of his purchase of the music service.

The legal move against Tidal’s former owners comes one year after Jay Z’s purchase of the business, alongside celebrity co-owners Madonna, Beyonce and Rhianna, for $40m in March last year with the artist reportedly seeking compensation of $15m.

In a statement Tidal said: “We are excited that one year after Tidal launched, we have surpassed 3 million subscribers globally. The growth in our subscriber numbers has been even more phenomenal Read full story ›

Source: The Drum