Jay-Z and Jack get further into bed with each other

Plus, Amazon wants exclusivity from the NFL & Reddit has their eyes on new stock

Hello there, 

Square (SQ), the mobile payments firm owned by Twitter co-founder Jack Dorsey, has announced it is paying $297 million in cash and stock for a majority stake in Tidal, Jay-Z’s music streaming platform. Jay-Z will also join Square’s board of directors. Under the terms of this deal, Tidal’s co-owners such as Beyoncé, Madonna, and Rihanna, will retain their stakes and become the second-largest shareholders. Jesse Dorogusker, a Square executive who will run Tidal on an interim basis, said Square is interested in helping artists to explore options such as receiving digital payments directly from fans. “There are tools they need to be successful and we are going to build for them,” he said. (The Guardian)

Amazon wants to be the exclusive provider of all Thursday NFL games 

Amazon (AMZN) is currently in talks with the National Football League to pay about $1 billion for an entire season’s worth of exclusive games. However, according to CNBC’s sources, the NFL may decide to keep certain games on the NFL Network and take less money from Amazon. The deal would build on Amazon’s three-year deal with the NFL to broadcast 12 Thursday games in 2020, 2021, and 2022 seasons on its Prime Video streaming service. (CNBC)

Reddit has their eyes on Tanger Factory Outlet Centers

Tanger Factory Outlet Centers (SKT) has attracted the ever-hungry eyes of the Redditors. The real estate investment trust was the top-trending stock in the r/WallStreetBets community. Tanger currently the second-most shorted stock after GameStop according to High Short Interest Stocks. The company has been badly affected by the COVID-19 pandemic as most of the occupants of their outlet centers are non-essential businesses. The company’s reported fourth-quarter results showed that it managed to attract customer traffic at 90% of 2019 levels and collect 95% of billed rent in the same period. (Yahoo Finance)

That’s it from us. 

See you next week.