LN-Gaiety’s purchase of MCD cleared by CMA
19 Dec 2019 02:49 PM
An in-depth CMA investigation has found that Live Nation-Gaiety’s proposed purchase of MCD does not raise competition concerns.
The Competition and Markets Authority (CMA) investigated the deal between LN-Gaiety Holdings Limited – a joint venture between Live Nation and Gaiety Investments Unlimited Company – and MCD Productions.
The LN-Gaiety joint venture owns and operates live music venues and festivals in the UK and Ireland, while MCD is primarily a promoter of live music events on the island of Ireland.
After completing an initial Phase 1 investigation, the CMA was concerned that the deal could damage competition in live music promotion in Northern Ireland, as Live Nation could hinder MCD’s rival promoters’ ability to sell tickets through its subsidiary Ticketmaster. This led to the deal being referred for an in-depth Phase 2 probe. The CMA then announced in November that it had provisionally found the deal should be cleared. Having consulted on this provisional finding, the CMA has now confirmed the merger has been cleared.
The CMA found that the merger is not likely to raise competition concerns as Live Nation would not be expected to have the incentive to harm rival music promoters by making it harder for them to sell tickets through Ticketmaster.
For more information, visit the LN-Gaiety Holdings / MCD Productions merger inquiry page.
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