CCPC to carry out a phase 2 investigation of LN-Gaiety/MCD Productions merger
January 3, 2019
The Competition and Consumer Protection Commission (CCPC) has decided to carry out a full Phase 2 investigation in relation to the proposed acquisition of MCD Productions Unlimited Company by LN-Gaiety Holdings Limited.
Following a preliminary investigation, the CCPC has determined that a full investigation is required in order to establish if the proposed transaction could lead to a substantial lessening of competition in any market for goods or services in the State. The CCPC will publish the reasons for its determination to proceed to Phase 2 on its website no later than 60 working days after the date of the Determination and after allowing the parties the opportunity to request that confidential information be removed from the published version.
Interested parties are invited to make submissions no later than 5.30pm on 18 January 2019. Parties making submissions should indicate clearly what, if any, material submitted contains business secrets. Submissions should be marked “M/18/067 – LN-Gaiety / MCD Productions” and should be addressed to Donnacha Hennessy, Senior Investigator / Analyst, Competition Enforcement and Mergers Division, Bloom House, Railway Street, Dublin 1 or sent by e-mail to donnachahennessy@ccpc.ie.
Additional Information
LN-Gaiety Holdings Limited is a UK incorporated joint venture between Live Nation (Music) UK Limited and Gaiety Investments, in operation since 2005. LN-Gaiety’s business activities are focused on the operation of a number of music festivals and venues, primarily in the UK but includes ownership of the Electric Picnic music festival in Ireland.
Live Nation (Music) UK Limited is ultimately owned and controlled by Live Nation Entertainment Inc., a global live music entertainment company and owner of Ticketmaster Unlimited Company, Ireland’s largest ticketing agent. Live Nation Entertainment Inc. also owns and operates the 3Arena, operates the Bord Gais Energy Theatre and manages venues, incl. the Gaiety and Olympia theatres, on behalf of Gaiety Investments.
MCD Productions Unlimited Company is primarily a promoter of live music events on the island of Ireland, including two music festivals, namely Longitude and Vital.
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