Live Nation’s proposed takeover of leading Irish promoter MCD Productions has been provisionally cleared by British government watchdog, The Competition and Markets Authority (CMA).
The CMA launched a “phase 1” inquiry into the acquisition earlier this year, following concerns that the deal could lessen competition in the music promotion industry in Northern Ireland.
Announcing its findings July 11, the government agency noted there were only a few rival music promoters in the region, most of which rely on Ticketmaster to sell tickets to their events.
“This could result 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 warned in July.
Full Content: Billboard
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