Ireland: Full investigation of Live Nation/MCD deal launched

A full investigation is to be carried out into the sale of Ireland’s biggest music promoter to the owners of the country’s biggest music festival. The Irish Competition and Consumer Protection Commission (CCPC) has decided to carry out a full Phase 2 investigation in relation to the proposed acquisition of MCD Productions Unlimited Company by LN-Gaiety Holdings Limited.

The CCPC is examining whether the move to sell MCD Productions to the owners of Electric Picnic could result in less competition in the entertainment industry.

As well as owning Electric Picnic, LN Gaiety Holdings (a UK incorporated joint venture between Live Nation (Music) UK Limited and Gaiety Investments) has business arrangements with Live Nation UK. The owner of Live Nation UK operates Ticketmaster, the 3Arena, Gaiety, Olympia, and Bord Gais Energy theatres in Dublin.

The CCPC will publish the reasons for its determination to proceed to Phase 2 on its website no later than 60 working days after the date of the determination and after allowing the parties the opportunity to request that confidential information be removed from the published version.

Full Content: CCPC

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.