LN-Gaiety's proposed MCD takeover referred to phase 2 investigation by CMA

LN-Gaiety's proposed MCD takeover referred to phase 2 investigation by CMA

The UK's Competition And Markets Authority (CMA) has referred its investigation of Live Nation-Gaiety’s proposed takeover of Irish promoter MCD for an in-depth Phase 2 probe.

Following its Phase 1 investigation, the CMA raised concerns that the deal could result in less competition in the music promotion industry in Northern Ireland, potentially resulting in less competition in promotion services to artists, leading to higher prices for concert goers, as well as a smaller variety of live music events to choose from.

The CMA does not have competition concerns regarding other aspects of the companies’ businesses, such as music festivals and access to music venues.

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

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