Sprint Buys 33% of Jay Z’s Music Streaming Service Tidal

Sprint Corp. acquired a 33 percent stake in music-streaming service Tidal as the fourth-largest U.S. wireless carrier turns to media streaming to attract more customers with exclusive content.

Marcelo Claure, Sprint’s chief executive officer, will join the Tidal board and musician Jay Z will continue to run the business, according to a statement Monday. Financial terms of the deal weren’t disclosed. Sprint paid $200 million for the stake, according to a report in MusicBusinessWorldwide.