LIVE: Jay Z is announcing the relaunch of his newly acquired music streaming service

Jay Z is set to hold a press conference at 10pm UK time (5pm in New York ) where he will announce his relaunched music streaming site Tidal, as well as celebrity collaborations.

The press conference is taking place at the James A. Farley Post Office in New York. It's going to be a short conference, as it's currently scheduled to last only 17 minutes.

Here's an embedded livestream of the announcement:

And here's our preview of tonight's press conference, including a list of celebrities who are supporting Tidal, and what we might see announced tonight.

Jay Z acquired Aspiro, the company behind Tidal, in March for $56 million.