The Kingdom of Saudi Arabia bought 12,337,569 shares in Live Nation Entertainment, according to an SEC filing.
This comes less than two years after Ma was promoted to CEO of Warner Music China.
The sum will be divided up amongst three COVID-19 relief funds, including AIM's, Musician Unions', and Help Musicians'.
The deal also includes a publishing agreement with Capitol CMG.
Stream Local will launch on April 11, and will exclusively feature South African Acts.
The label will be run by young industry execs Shane Derozario, Dan Owusu, Lunick Bourgess.
The Award Wininng Musician responded to the Kenyan Government's 100m Ksh fund for musicians - says Ghanaian Music Industry needs to have a better direction to...
Based in LA, Alonte will take up the newly-created role of SVP of Creative Integration (music).
The fund will go specifically to independent record labels who have a direct deal with the service.