The tide of J-Z is connected to millions of PPPs – diversity

Update: According to documents released by the Department of Small Business Administration and Treasury, Malibu Entertainment Paycheck Protection Program, a company affiliated with Jay-Z’s tidal streaming service, was among the businesses applying for and accepting loans; A source close to the matter said Diversity The loan was 1 2.1 million. Loans are part of the federal government’s ট্র 2 trillion carry law to help small businesses affected by the coronavirus.

Identified as soon as April, addresses have been published with Tide-Joke’s Entertainment Joint Venture Live Nations and J-Z’s Entertainment Joint Venture Streaming Service and there are some other jobs, trimming, trimming or pay cuts as much as 10% -20% Half have been reported as agencies Diversity. A source said Diversity In the last 15 weeks, 15 tidal wave workers were on leave.

To be contacted by Diversity, There was no comment about a representative of Tidal.

According to ACBA documents, Malibu is technically a separate entity – a black-owned motion picture and video production business in New York that, according to SBA documents, supports 95 jobs – is part of the tidal infrastructure it shares two recent addresses with both companies; A 2017 lawsuit alleges that Rock Nation, Tidal, Malibu Entertainment and Tide’s parents Espiro are essentially the same company (although the lawsuit was dismissed without a clear verdict); Malibu submitted graphic designers for H1B visas in 2017 as contacting Rock Nation’s CFO Joseph Borino at the time, who used a Tidal.com email address; And several tidal workers say Diversity That their pay-leaves come from Malibu Entertainment.

J-Z is the only millionaire whose company took out a PPP loan. Fellow billionaire Kanye West borrowed between ২ 2 million and million 1 million, according to Yezi Documents, a clothing company owned by West, and many more outside the music world. The works of Ing Gols, Pearl Jam and Disturb on the top tour took loans ranging from $ 350,000 to মিল 1 million; For travel tasks, financial support crews and other support staff make for current and future trips. The Messina Touring Group, which has promoted many of Taylor Swift’s tours, was among the recipients, as did many individual labels and traveling artists taking smaller smaller ones.

A source said Diversity That tide and the Rock National March quickly made the cuts and furloughs because the crash effects of the coronavirus brought the rock’s two primary financial pillars – music travel and sports – to a virtual stalemate. Founded in 2006, Rock Nation is a versatile management-label-publishing company founded as a partnership between J-Z and Live Nations, while Espiro bought Norwegian Tidal’s Norwegian company J in 2015, when the streaming service was known as WMP.

Additional report by Jean Maddous.