Live Nation Stock Purchase by Saudi Arabia, Human Rights and Artist Integrity
This month’s most-talked-about music business news was certainly the $500 million purchase of a 5.7% stake in Live Nation by the Saudi Arabian Public Investment Fund (PIF) on Monday, April 27th. It has been impossible to not raise an eyebrow over the Live Nation stock purchase, considering just how much the entertainment industry has shunned Saudi Arabia since 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. and Turkish intelligence agencies — charges that Salman denied. The murder led Endeavor chairman Ari Emanuel to cancel a $400 million investment into his talent agency and content company and caused many in Hollywood to sour on the prince who had billed himself as a reformer in the powerful Arab country.
