Saudi Arabian Fund Buys $500M In Live Nation Stock

Saudi Arabia's Public Investment Fund acquired a $500 million stake in Live Nation, making it the third-largest shareholder. This investment comes as the pandemic has halted large public events globally, affecting Live Nation's operations. Ticketmaster, owned by Live Nation, has initiated a refund plan for canceled or postponed events, offering full refunds or 150% credit. However, the company faces lawsuits over its initial reluctance to provide refunds.

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