JAY-Z_GREAT-GATSBY_SCORE_Sean “Jay-Z” Carter is looking to buy Aspiro – a Swedish tech company that streams music through subscription, similar to giant Spotify – through Project Panther Bidco, which is controlled by S. Carter Enterprises.

“Aspiro is a media technology company in the forefront of the ongoing redefinition of music consumption,” a spokesperson for S. Carter Enterprises says the $56 million deal that’s underway. “Panther believes that the recent developments in the entertainment industry, with the migration to media streaming, offers great potential for increased entertainment consumption and an opportunity for artists to further promote their music.”

The deal isn’t sealed yet, as it’s subject to shareholder approval, but should the rapper take control of Aspiro, his company plans to expand the Scandinavian-based start-up’s services globally.

Many are speculating that the move is meant to challenge Spotify.