C
Chris Mills
Guest
Early this morning, slowly dying wireless carrier Sprint announced that it has bought a 33 percent stake in Tidal, Jay Z's nearly-dead streaming music service. The deal should bring free or discounted access to Tidal's service to all of Sprint's customers, in return for a much-needed cash injection for Tidal, and a seat on Tidal's board for Sprint CEO Marcelo Claure.
On the surface, it's a deal that makes total sense. Cell companies are beginning to realize that there's money to be made partnering with content producers, which is why AT&T is spending billions buying up Time Warner. But for Sprint, a company that's already having to perform financial backflips just to keep the lights on, investing money in a trainwreck of a service seems like a pretty bad plan
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