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Sprint buys 33% stake in Jay Z's Tidal

Sprint Corp. acquired a 33% stake in Jay Z's music and entertainment platform Tidal for an undisclosed sum.

The carrier acquired the stake as part of the company's partnership with Tidal that will allow current and new Sprint customers to access exclusive content from Tidal and its artists, the company said Jan. 23. Jay Z and the artist-owners will continue to run Tidal's service, while Sprint CEO Marcelo Claure will become a member of Tidal's board.

Tidal is available in more than 52 countries, with a catalog of more than 42.5 million songs and 140,000 high-quality videos.