LONDON (CelebrityAccess MediaWire) — The Office of Fair Trading is looking at the anticipated acquisition by AEG Facilities (UK) of the contract to manage Wembley Arena.
AEG Facilities UK signed on with the arena's owner Quintain Estates & Development to operate the venue after Live Nation's contract ended in December. AEG also operates the nearby O2 Arena and also was recently tapped to stage concerts in London's Hyde Park.
The OFT will be weighing if AEG's operation of the Wembley will result in a "substantial lessening of competition" in the market and if so, they will refer the case to the Competition Commission under the Enterprise Act 2002 for closer scrutiny. Possible resolutions could require AEG to divest some of its music venues in the market. – CelebrityAccess Staff Writers
