Saudi Arabia takes 5.7% stake in Live Nation as coronavirus hits concert industry [Los Angeles Times (CA)]
Live Nation Entertainment, Inc. (LYV)
Last live nation entertainment, inc. earnings: 10/31 04:01 pm
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Source: Los Angeles Times
Saudi Arabia has taken a 5.7% stake in Beverly Hills-based Live Nation Entertainment Inc., the world’s largest concert promoter, according to a document filed with the U.S. Securities and Exchange Commission on Monday. The investment, valued at about $500 million, comes as businesses like Live Nation that depend heavily on live events have been hard hit by COVID-19 pandemic . Concerns about the disease have shut down or postponed music festivals and concerts , including ones hosted by Live Nation. The company said 8,000 shows were affected by the suspension of events from mid-March through March 31. Live Nation sold 15 million tickets for those shows, many of which were postponed. About 10% of the tickets sold were for shows that were canceled, Live Nation said. Live Nation and its Ticketmaster division have been criticized and sued over how they have handled refunds. Ticketmaster said earlier this month it had 30,000 events canceled or postponed due to COVID-19 this year, affecting $
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LYV
Earnings
- 11/11/24 - Beat
LYV
Sec Filings
- 12/6/24 - Form 8-K
- 11/27/24 - Form 4
- 11/27/24 - Form 4
- LYV's page on the SEC website