By Jem Aswad
25.04.2020 - 00:47 / variety.com
By Jem Aswad
Senior Music Editor
Live Nation’s ticket-refund site with details about events cancelled or postponed due to the coronarvirus pandemic, announced last Friday, is now live.
Details of the refund program, now called Ticket Relief, were announced April 17, on the heels of a similar program from AEG Presents, but were not posted until the afternoon of the 24th. They can be found at livenation.com/ticketrelief.
Ticketholders will be able to decide refund options via a direct email
By Jem Aswad
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A coalition of the top concert promoters, venue managers and show producers have joined forces to request federal aid for the live entertainment industry as it faces an existential crisis from the COVID-19 pandemic.Billboard obtained a copy of the memo, which calls on Congress to expand the Paycheck Protection Act to entertainment companies with 500 or fewer employees, as well as an expansion of loans to mid-sized businesses under the CARES Act and the Federal Reserve’s Main Street Lending
Saudi Arabian Public Investment Fund (PIF)'s $500 million purchase of a 5.7% stake in Live Nation on the open market Monday (April 27) could indicate a more passive play for the entertainment business since the country has been largely shunned over the murder of journalist Jamal Khashoggi at the Saudi consulate in Istanbul last October.The gruesome murder was allegedly ordered by Saudi prince Mohammed bin Salman, according to reports by U.S.
The government of Saudi Arabia's sovereign wealth fund has acquired a 5.7 percent stake in Live Nation, the parent company of Ticketmaster.The Saudi Public Investment Fund disclosed the stake, comprising 12,337,569, shares in a filing with the Securities and Exchange Commission on Monday morning.Based on Live Nation’s share prices as of this writing, the investment is valued at just shy of $500 million.
The Public Investment Fund, Saudi Arabia’s sovereign-wealth fund, recently purchased a large stake in Live Nation Entertainment, the world’s largest live-entertainment company, according to SEC filings released Monday.
By Jem Aswad
The promotion giant previously said that refunds wouldn't be available until a new date was announced for postponed gigs
Fans who purchased tickets to a canceled Live Nation show at one of the company's venues will have a chance to get a full refund or accept a 150% credit toward a new ticket for a future date and part of a newly-announced ticket relief program.