CMA Investigates Live Nation-MCD Merger

CMA Investigates Live Nation-MCD Merger

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UNITED KINGDOM (CelebrityAccess) The Competition and Markets Authority in the UK is investigating the planned merger of Live Nation-Gaeity Holdings and Irish promoter MCD Productions.

The investigation follows a similar action by an Irish watchdog organization, the Republic of Ireland’s Competition and Consumer Protection Commission, that launched a “phase 2” investigation into the acquisition in January.

LN-Gaiety, a joint venture between Live Nation UK and Denis Desmond’s Gaiety Investments, announced its plans to acquire Desmond’s company MCD Productions last fall. Desmond became chairman of Live Nation UK and Ireland in 2015.

The Irish consumer protection agency said it has moved on to “phase 2″ of its investigation after being “unable to conclude that the proposed transaction will not lead to a substantial lessening of competition in any market for goods or services,” according to IQ.

The CMA launched a similar investigation into Live Nation’s takeover of Isle of Wight Festival in 2017. Live Nation was cleared by that August.

 

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