CMA provisionally clears LN-Gaiety-MCD deal

CMA provisionally clears LN-Gaiety-MCD deal

A Competition & Markets Authority (CMA) investigation has provisionally found that Live Nation-Gaiety’s proposed purchase of Irish promoter MCD does not raise competition concerns.

The CMA has been investigating the deal between LN-Gaiety Holdings Limited – a joint venture between Live Nation and Gaiety Investments Unlimited Company – and MCD Productions since July.

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.

However, as part of an in-depth Phase 2 investigation led by an independent group of panel members, the CMA has now provisionally 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.

The deal was previously cleared by Ireland's Competition And Consumer Protection Commission (CCPC), "subject to a number of legally binding commitments".

The CMA is asking for views on these provisional findings by November 28 and will assess all evidence provided before making a final decision. The statutory deadline for the CMA’s final report is January 8, 2020.

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