LN-Gaiety鈥檚 purchase of MCD cleared by CMA
An in-depth CMA investigation has found that Live Nation-Gaiety鈥檚 proposed purchase of MCD does not raise competition concerns.
皇冠体育app Competition and Markets Authority (CMA) investigated the deal between LN-Gaiety Holdings Limited 鈥� a joint venture between Live Nation and Gaiety Investments Unlimited Company 鈥� and MCD Productions.
皇冠体育app 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鈥檚 rival promoters鈥� ability to sell tickets through its subsidiary Ticketmaster. This led to the deal being referred for an in-depth Phase 2 probe. 皇冠体育app 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.
皇冠体育app 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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