Sprint just bought a big stake in Tidal

The telecommunications company Sprint just bought a 33% stake in the music-streaming service Tidal.

Tidal, which is co-owned by Jay Z, will provide Sprint's retail customers with access to exclusive content not available to other Tidal users.

Sprint's CEO, Marcelo Claure, will join Tidal's board of directors.

"Sprint shares our view of revolutionizing the creative industry to allow artists to connect directly with their fans and reach their fullest, shared potential," Jay Z said in a statement.

"Marcelo understood our goal right away and together we are excited to bring Sprint's 45 million customers an unmatched entertainment experience."

More to come...