The Kingdom of Saudi Arabia bought 12,337,569 shares in Live Nation Entertainment, according to an SEC filing.
Bioethicist Zeke Emanuel told the NY Times it is not plausible to resume live events before Fall 2021.
The media giant and Country Music trade association have pledged $10m and $1m, respectively.
Green Day, ASCAP, Stormzy, Coachella and SXSW have all been axed or postponed due to Coronavirus fears.
