jwz – Live Nation stole millions in Federal aid meant for independent venues

Congress wrote a pandemic relief law that excluded Live Nation and companies like it. But the Small Business Administration gave nearly $19 million to Live Nation subsidiaries or companies in which it has a significant investment.”When we wrote this, we specifically didn’t want these publicly traded companies — Live Nation foremost among them — to get their hands on this money,” said Rep. Peter Welch (D-Vt.), a key co-sponsor of the relief legislation. “I did not want Live Nation getting a nickel.”Live Nation as a parent company did not directly receive any money from the program, but the government relief to its subsidiaries still protected its investments and improved its long-term outlook […] One of the…

External feed Read More at the Source: https://www.jwz.org/blog/2022/05/live-nation-stole-millions-in-federal-aid-meant-for-independent-venues/