The Competition And Markets Authority (CMA) has cleared Live Nation-Gaiety’s proposed purchase of Irish promoter MCD, concluding the move does not raise competition concerns.
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.
After completing an initial Phase 1 investigation, the deal was referred for an in-depth Phase 2 probe. But the watchdog then gave the provisional go-ahead in November and has now confirmed the merger has been cleared.
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 in Ireland.
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.