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UK: Wembley stadium merger referred to Competition Commission

By  |  March 23, 2013
UK: Wembley stadium merger referred to Competition Commission

An already-completed deal that lands the contract to manage Wembley Arena in the hands of AEG Facilities UK has been referred to the Competition Commission, the Office of Fair Trading announced Friday. Wembley was previously under control of Live Nation Entertainment. The OFT raised concerns over the deal noting that AEG currently operates three major live entertainment arenas in London already, including the O2 arena. The deal may reduce competition in the market, the regulator said, as there are few venues that can hold such large audiences in the London area. The deal could potentially increase ticket costs as well as fees for entertainment promoters.

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