Liberty Media CEO Greg Maffei said his company looked at around 140 companies in all as potential media or entertainment acquisitions, but saw no target worth pursuing.
Report of Spotify eyeing Middle East-based streaming company Anghami is a sign of big investor interest in the regions.
The purchase, estimated at $325 million, includes royalty streams for songs by artists like Tech N9ne, George Jones and Trey Songz, among others.
Under the deal, Marcus Allen and Brandon McEachern join Live Nation Urban in executive roles.
The deal includes a joint venture allowing Shelton to continue to earn money from his music post-sale.
The offer arrived just two weeks before Twitter’s lawsuit seeking to force Musk to go through with the acquisition was scheduled to go to trial.
