Jay Z 'preparing to sue' former Tidal owners

Mogul claims media group Schibsted and VC firm Verdane exaggerated the streaming service's number of users when he bought it last year

A year after buying a little-known music service and relaunching it as Tidal, Jay Z appears to be preparing to sue its original owners for misleading him about its performance.

Lawyers for the musician turned millionaire businessman has reportedly written to venture capital firm Verdane and Scandinavian media conglomerate Schibsted saying they "significantly" exaggerated the service's number of users.