LOS ANGELES (CelebrityAccess) — Just days ahead of the release of Live Nation’s financial filings for the fourth quarter of 2020, financial filings revealed that the Kingdom of Saudi Arabia has increased its holdings in Live Nation’s stock.
The transaction, which occurred on December 31st, but was reported on February 16th, saw the theocratic autocracy add to its stake in Live Nation by 227,598 shares.
The Kingdom’s Public Investment Fund holdings represent a 5.8 percent ownership stake in Live Nation and triggers reporting requirements for major holders.
The Kingdom of Saudi Arabia joins a small group of investors who each hold more than 5%, including Vanguard Group, which owns 6.9% and Liberty Media, which holds 34%. Hedge fund BlackRock Inc. decreased their ownership of Live Nation in June to 4.9% divesting almost a million shares, representing about 8.5% of their total stake in Live Nation.
Other major international holders of Live Nation include the Canada Pension Plan Investment Board, who own 10.7 million shares, roughly 4.9% of the company.