The Isle of Wight Festival’s takeover by global entertainment Live Nation is being looked at by competition watchdogs amid potential concerns over the deal.
Britain’s Competition and Markets Authority (CMA) said it was looking at launching an investigation into whether Live Nation’s move to snap up a controlling stake in the Isle of Wight Festival would lead to a “substantial lessening of competition”.
The move comes after Live Nation became the majority shareholder in the Isle of Wight Festival in March through LN-Gaiety – its UK joint venture with music mogul Denis Desmond’s Gaiety Investments.
Live Nation has added the Isle of Wight event to its portfolio of more than 85 music festivals worldwide, including Reading, Leeds, Wireless and T in in the Park.
The CMA has not yet set a date for consultation submissions or its decision, but has asked Live Nation and the Isle of Wight Festival to operate separately until it gives the merger the green light.
Full Content: Isle Of Wight Radio
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Chamber of Commerce Sues to Overturn FTC Non-Compete Ban
Apr 24, 2024 by
CPI
FTC Chief Warns of Healthcare Price Fixing Risks Amid Tech Advancements
Apr 24, 2024 by
CPI
Amazon’s Investment in Anthropic Faces Antitrust Scrutiny
Apr 24, 2024 by
CPI
Italian Antitrust Authority Fines Amazon €10 Million for Unfair Trade Practices
Apr 24, 2024 by
CPI
Tuta Mail Raises Alarm Over Google Search Ranking Plunge Amidst DMA Rollout
Apr 24, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI