A PYMNTS Company

UK: Competition watchdog looks into takeover of Isle of Wight Festival

By  |  April 25, 2017

The Isle of Wight Festival’s takeover by global entertainment Live Nation is being looked at by competition watchdogs amid potential concerns over the deal.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Britain’s Competition and Markets Authority (CMA) said it was looking at launching an investigation into whether Live Nation’s move to snap up a controlling stake in the Isle of Wight Festival would lead to a “substantial lessening of competition”.

    The move comes after Live Nation became the majority shareholder in the Isle of Wight Festival in March through LN-Gaiety – its UK joint venture with music mogul Denis Desmond’s Gaiety Investments.

    Live Nation has added the Isle of Wight event to its portfolio of more than 85 music festivals worldwide, including Reading, Leeds, Wireless and T in in the Park.

    The CMA has not yet set a date for consultation submissions or its decision, but has asked Live Nation and the Isle of Wight Festival to operate separately until it gives the merger the green light.

    Full Content: Isle Of Wight Radio

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